Netflix on Monday said chief financial officer David Wells plans to step down after his successor is found. (THR)
Wells has served as the finance chief since 2010. Under his watch, Netflix’s stock price skyrocketed from roughly $26 at the end of that year to more than $341, increasing more than 13-fold. (WSJ)
Wells plans to focus more on philanthropy once he exits. He joined Netflix in 2004. Reed Hastings, Netflix CEO, credits Wells with managing the company’s finances during a period of “dramatic growth,” which included the streaming giant’s surge into original programming. (USA Today)
Netflix said Wells will step down after helping the company choose his successor and announced that its search for a new CFO will include “both internal and external candidates.” (Variety)