.In January 2023, Reed Hastings stepped down from his task as co-CEO of Netflix. It was a headline he 'd been sharing for about 3 years along with Ted Sarandos. In announcing his move to come to be the company's executive leader, Hastings made clear that Sarandos would certainly continue to be in position, but would certainly now be actually signed up with by the streaming titan's previous chief functioning police officer, Greg Peters. " Ted & Greg are currently co-CEO's," Hastings tweeted. "After 15 years all together our experts possess a terrific dictation & I'm therefore positive in their management. Twice the heart, double the potential to satisfy members & accelerate growth." Since, doubters have pondered: Does this dual-CEO arrangement really work? And also if thus, just how? Besides, providers like Salesforce as well as have famously attempted-- at that point scrapped-- identical leadership designs. Sure, Hastings as well as Sarandos had actually actually been co-CEOs together, however that agreement had felt distinct given that Hastings, as a cofounder of the company, was actually accurately in the dominant role. Now, with 2 brilliant, ambitious managers sharing the best task, it experienced greater than possible, to outsiders at least, that self-prides might get in the way. Over the summer months, as I was actually disclosing a tale about Sarandos for Rapid Firm, Hastings himself acknowledged that the co-CEO structure was what he phoned "a high performance strategy. It's not for most situations and also a lot of companies. However if you've received 2 individuals that function actually effectively with each other as well as complement and expand as well as depend on one another, after that it deserves doing." He included this caution, though: "You've got to possess a quite encouraging lifestyle." Much more than a year into their alliance, Sarandos and also Peters each informed me that for all of them, sharing the top work makes good sense. (Sarandos's role features operating aspect on advertising and marketing, legal, interactions, and also promotion Peters pioneers on item and tech, marketing, human resources, financial, and also pc gaming.) "Having a person to consult with who is actually not a worker or a board participant-- who is your peer-- is so beneficial," Sarandos pointed out, incorporating that having Peters as a partner assists fight something all Chief executive officers expertise, however handful of refer to openly: "It is that lonely-at-the-top factor. The stating came from someplace." Peters acknowledged. "When there's a room where our experts differ, however then our company ultimately accept each other's region of knowledge, I think our company come to better decision-making," he stated. "Our company possess however to find a real example where, by bringing both of our point of views and resolving it and eating through it together, we in fact have not found yourself in the very same area." There have certainly been actually disagreements, as disclosed in March by the Wall Street Diary. Yet as the title about that piece concluded, "Netflix's Co-CEOs Are Absolutely nothing Alike. That is actually a Good idea.".