.In January 2023, Reed Hastings left coming from his work as co-CEO of Netflix. It was a title he had actually been sharing for concerning 3 years along with Ted Sarandos. In introducing his move to end up being the business's exec leader, Hastings explained that Sarandos will continue to be in position, yet will now be actually signed up with by the streaming giant's former principal running officer, Greg Peters. " Ted & Greg are now co-CEO's," Hastings tweeted. "After 15 years with each other our team possess a terrific dictation & I am actually therefore self-assured in their management. Two times the soul, double the ability to feel free to participants & accelerate growth." Since, skeptics have questioned: Does this dual-CEO setup really function? And if so, exactly how? It goes without saying, providers like Salesforce and also have once made an effort-- after that junked-- identical leadership styles. Certain, Hastings and also Sarandos had actually actually been co-CEOs with each other, however that setup had thought one-of-a-kind due to the fact that Hastings, as a cofounder of the provider, was actually plainly in the prevalent role. Today, along with pair of smart, determined execs discussing the leading task, it felt much more than possible, to outsiders at least, that vanities might hamper. Over the summer months, as I was actually stating a story concerning Sarandos for Swift Firm, Hastings themself acknowledged that the co-CEO design was what he called "a quality method. It is actually not for most conditions and also a lot of firms. But if you have actually acquired pair of individuals that function actually well together and supplement and also prolong and depend on one another, at that point it deserves carrying out." He incorporated this caveat, though: "You have actually reached possess an incredibly supportive culture." More than a year in to their relationship, Sarandos and Peters each told me that for them, sharing the leading job makes good sense. (Sarandos's role consists of managing aspect on marketing, legal, interactions, and also publicity Peters leads on item as well as tech, advertising and marketing, human resources, financial, as well as video gaming.) "Having a person to talk with that is not a staff member or a board participant-- who is your peer-- is thus practical," Sarandos claimed, including that possessing Peters as a companion assists deal with one thing all CEOs knowledge, however couple of refer to publicly: "It is that lonely-at-the-top thing. The mentioning stemmed from somewhere." Peters acknowledged. "When there is actually a space where we differ, yet at that point we inevitably accept one another's place of proficiency, I assume our company come to far better decision-making," he stated. "Our company have however to locate a genuine example where, through delivering each of our perspectives and working through it and also chewing by means of it together, our team in fact haven't ended up in the exact same location." There have actually indeed been differences, as reported in March due to the Wall Street Publication. Yet as the title on that item wrapped up, "Netflix's Co-CEOs Are Nothing at all Alike. That's an Advantage.".