Netflix CFO David Wells steps down after 14 years with streaming giant: Right time to identify next leader

FP Staff

Aug 14, 2018 12:40:51 IST

Netflix Chief Financial Officer (CFO) David Wells on Monday announced plans to hand his job off to a successor and then focus on philanthropy.

Wells has worked at the online television streaming titan for 14 years, the last eight of those as its top financial executive. Wells has been with 21-year-old Netflix as it has grown into the world's first global television service and changed viewing habits with the introduction of "binge-viewing."

Netflix CFO David Wells steps down after 14 years with streaming giant: Right time to identify next leader

Netflix CFO David Wells. Image via Twitter

"I'm very proud of everything we’ve accomplished," Wells said in a release. "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 noted that he would remain at Netflix until a new CFO is in place, intending the next phase of his life to focus more on philanthropy.

"David has been a valuable partner to Netflix and to me," said co-founder and chief executive Reed Hastings. "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 joined Netflix in 2004 and was made CFO in 2010.

(With input from Agence France-Presse)

Updated Date: Aug 14, 2018 12:42:31 IST