One of the top executives at Netflix is headed out the door, with the streaming service announcing today that Chief Financial Officer David Wells is stepping down.
Wells will stay on long enough to help choose his successor, the company said.
“The search will include both internal and external candidates,” the company noted.
Wells joined Netflix in 2004 and has served as CFO since 2010. In the announcement the company credited him with “guiding Netflix through rapid growth and delivering outstanding financial returns.”
“It’s been 14 wonderful years at Netflix, and I’m very proud of everything we’ve accomplished,” Wells said. “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. Personally, I intend my next chapter to focus more on philanthropy and I like big challenges but I’m not sure yet what that looks like.”
Added Reed Hastings, Netflix Chief Executive Officer: “David has been a valuable partner to Netflix and to me. 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. I look forward to working with him during the transition as we identify a new CFO who will help us continue to pursue our ambitious goals.”