Netflix’s chief financial officer David Wells is to step down after helping the company choose his successor.
Wells, who joined Netflix in 2004 and has served as CFO since 2010, will stay until a successor takes the role for a smooth transition.
The search for a new candidate will include both internal and external applicants.
“It’s been 14 wonderful years at Netflix, and I’m very proud of everything we’ve accomplished,” Wells said. “After discussing my desire to make a change with Reed, we agreed that with Netflix’s strong financial position and exciting growth plans, this is the right time for us to help identify the next financial leader for the company.”
Wells explained in a statement that in the future he would like to focus on philanthropy and take on a “big challenge” but is not yet clear on what the future will hold.
Netflix CEO, Reed Hastings said: “David has been a valuable partner to Netflix and to me. He skillfully managed our finances during a phase of dramatic growth that has allowed us to create and bring amazing entertainment to our members all over the world while also delivering outstanding returns to our investors.”
Wells’ tenure as finance chief at the streaming outfit saw it build up its huge investment in original content. He also helped develop its European presence with a two-year posting in Amsterdam.
ICYMI: BCCI confirms September IPL restart digitaltveurope.com/2021/07/27/bcc… https://t.co/sheavM2VNZ
27 July 2021 @ 20:00:00 UTC
ICYMI; Former Technicolor exec Muylkens appointed MD at Zappware Belgium digitaltveurope.com/2021/07/27/for… https://t.co/GWYASi2gZZ
27 July 2021 @ 18:52:00 UTC
Over 70 8K TVs certified by 8K Association as tech increases in popularity digitaltveurope.com/2021/07/27/ove… https://t.co/y1ZtRLe5vY
27 July 2021 @ 16:59:00 UTC
Russia’s Match TV picks up EPL rights in long-term deal digitaltveurope.com/2021/07/27/rus… https://t.co/ajg4NSyfYb
27 July 2021 @ 15:59:00 UTC