CFO David Wells to Resign from Netflix

David Wells, chief financial officer at Netflix, is planning to leave the company after a replacement for his position is found.

Wells was first hired by Netflix in 2004, becoming CFO in 2010. Earlier in his career, he worked for Deloitte Consulting. Netflix’s search for a new chief financial officer will include a combination of both internal and external candidates.

Reed Hastings, Netflix’s CEO, said: “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.”

“It’s been 14 wonderful years at Netflix, and I’m very proud of everything we’ve accomplished,” added Wells. “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.”