In his official blog, Reed Hastings, the co-founder, chairman and CEO of Netflix announced that the company has appointed Ted Sarandos to be Netflix’s co-CEO. Ted is also elected to the company’s Board of Directors, and will continue as its Chief Content Officer. In yet another move, Netflix also appoints Greg Peters as its Chief Operating Officer, in addition to his role as Chief Product Officer.

“Ted has been instrumental to our success as a company. While I saw streaming coming and pushed for it, Ted drove the revolution in our content strategy,

which was way ahead of its time and has been key to our continued success,” said Reed. “Greg’s appointment as COO reflects the strategic and analytical strengths he has brought to our product team over the past 10 years. In his new role, I want Greg to take on more of this work so that we continue to improve rapidly,” he added.

“I am excited and honored to have been appointed as co-CEO of Netflix. When Reed and I first net over 20 years ago, he described Netflix almost exactly as it now works. I have been tremendously fortunate in the teams we have built at Netflix, as we have reinvented ourselves again and again to meet our members’ needs. My journey to co-CEO of Netflix has been as a fan of great entertainment. And that is my commitment to Netflix members going forward: to keep pushing the boundaries of what a consumer-first company can achieve for people who love stories,” explained Ted.

The pandemic and the lockdown came as a blessing in disguise for the company as it added 10.1 million streaming subscribers during this period (April through June), which is its highest second-quarter gains ever. This takes the global subscriber number to nearly 193 million.