Netflix shareholders allow Hastings to retain dual role

Reed Hastings, Netflix CEO and chairman, has successfully kept hold of both positions at the online streaming service, after shareholders rejected a motion that would have separated the two positions. Hastings co-founded Netflix in 1997, and has been chairman since its inception.

According to the Wall Street Journal report, 53% of shareholders at its annual general meeting voted against the resolution to create two separate roles. The vote was conducted at the Netflix annual shareholders meeting at the company’s headquarters in Los Gatos, Calif.

“Netflix has demonstrated extraordinary long-term success under the leadership of Reed and the board,” a Netflix representative told the paper. The company declined to comment further.

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