Chair’s decision to not seek re-election ‘not as a result of any disagreement’, company says in filing

Reed Hastings, the Netflix chair, is leaving the streaming service he co-founded nearly 30 years ago as the company regains its footing after losing out on a $72bn (£53bn) deal for Warner Bros Discovery.

In a 14-page letter to investors released on Thursday, Netflix said Hastings would not stand for re-election at its annual meeting in June and planned to focus on philanthropy and other pursuits.