Netflix insiders applaud new co-CEO Greg Peters, 'the only real visionary' in the C-suite, but scratch their heads over what other exec changes mean for the company
The C-suite promotion marks the significance of Netflix's emerging ad business, said Insider Intelligence principal analyst Paul Verna.
Peters keeps a relatively low profile compared to Hastings and Sarandos, though he is known to friends as a wine enthusiast and foodie, and one former colleagueWell-liked within the company, Peters assured investors on the call Thursday that there would be"no big strategy shift, no culture shift" following his installation as co-CEO, and that"we don't have a bank of changes that we've been holding for this moment.
Having Peters as co-head reflects Netflix's Silicon Valley roots, noted a third former Netflix exec, not to mention the respect he has garnered among the many engineers and tech teams within the company — an area in which Sarandos is less well versed. Global TV head Bela Bajaria has been elevated to chief content officer, taking up the mantle held by Sarandos, a move that allows Sarandos to focus his energies while still showing there's still a single person in charge of content.
Netflix insiders said Bajaria's new title underscored the importance of TV versus film in the streaming wars. And where both previously reported directly to Sarandos, some Netflix insiders expect Stuber could now report to Bajaria, because of her title — though the company would not confirm the reporting structure to Insider.
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