Netflix published two messages about new CEOs. One is written by Reed Hastings, who founded Netflix and reigned as CEO for the company’s first 25 years. He leaves on a high note, which a letter to shareholders acknowledges: “2022 was a tough year, with a bumpy start but a brighter finish.” Subscribers were lagging but increased recently as Netflix implemented a new ad subscription model and launched a few popular shows.

Students could compare the Hastings blog message to that of the company in the letter to shareholders. The former focuses on the leaders (and compares Hastings’ trajectory to that of Bill Gates and Jeff Bezos into board chair positions). The latter includes typical quotes from the new co-CEOs.

I expected a bit more heart from a founder, but his goal may be to downplay the move. Both messages emphasize the planned succession—as though the news is not significant at all. And maybe it’s not. The real story Netflix wants to tell is about the recent turnaround.

Image source.