Tech

Netflix finance boss David Wells to leave company

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Netflix's chief financial officer David Wells will step down after helping the company find his successor, the streaming giant said today.

The hunt for a new head of finance will look at suitable internal and external candidates, Netflix added.

Wells has been at the company since 2004, two years after it floated in New York, and was appointed chief financial officer in 2010.

Read more: Debate: Should investors be worried about the future of Netflix?

Reed Hastings, Netflix chief exec, said:

David has been a valuable partner to Netflix and to me. He skilfully 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.

I look forward to working with him during the transition as we identify a new chief financial officer who will help us continue to pursue our ambitious goals.

Wells said he was proud of everything he'd accomplished in his 14 year tenure at the company.

"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," he explained.

"Personally, I intend my next chapter to focus more on philanthropy and I like big challenges but Im not sure yet what that looks like."

Read more: The creator of the Lion King just raised $1bn for a new Netflix

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Tech

Netflix finance boss David Wells to leave company

[unable to retrieve full-text content]

Netflix's chief financial officer David Wells will step down after helping the company find his successor, the streaming giant said today.

The hunt for a new head of finance will look at suitable internal and external candidates, Netflix added.

Wells has been at the company since 2004, two years after it floated in New York, and was appointed chief financial officer in 2010.

Read more: Debate: Should investors be worried about the future of Netflix?

Reed Hastings, Netflix chief exec, said:

David has been a valuable partner to Netflix and to me. He skilfully 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.

I look forward to working with him during the transition as we identify a new chief financial officer who will help us continue to pursue our ambitious goals.

Wells said he was proud of everything he'd accomplished in his 14 year tenure at the company.

"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," he explained. Read More »

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