# Hastings will not stand for re-election at Netflix's annual meeting in June.

*business · news · 2026-04-16 · CP24 Toronto*

## Key points

- Reed Hastings will not stand for re-election at Netflix's annual meeting and will leave the company.
- Netflix received a US$2.8 billion termination fee after losing the Warner Bros and HBO deal.
- Advertising revenue is projected to reach US$3 billion in 2026, doubling from the previous year.
- Netflix is expanding into video podcasts and live entertainment, including events like the World Baseball Classic in Japan.
- First quarter earnings per share rose to US$1.23, up from 66 cents last year.

**Companies:** Netflix
**Countries:** United States

[Read the full story on CP24 Toronto](https://www.cp24.com/news/money/2026/04/16/netflix-co-founder-reed-hastings-to-exit-in-june/)

---

Canonical: https://newsio.io/n/ad7088aa-8ef2-482c-84ab-d32ff2aa2eee/hastings-will-not-stand-for-re-election-at-netflixs-annual-meeting-in-june-he-pl
Summarized by Newsio from CP24 Toronto. https://newsio.io/how-it-works