Netflix Inc founder, chairman and CEO Reed Hastings will not seek re-election to Microsoft’s board of directors so he can focus on Netflix and his education work.
“I’m thrilled to have served on the board at such a pivotal time for Microsoft, including the development of Windows 8, Windows RT and Microsoft Surface, which will bring exciting new opportunities for customers and the industry as a whole,” Hastings said.
“I’ve decided to reduce the number of boards I serve on, so that I can focus on Netflix and on my education work.”
Hastings joined the Microsoft board, which has traditionally ranged between nine and 11 members, in March 2007. He currently serves as the lead independent director on the Microsoft board and will continue to serve through the annual meeting of Microsoft shareholders in November 2012. The board will appoint a new lead independent director at that time.
Hastings also serves on the boards of Netflix, Facebook, Dreambox Learning, the Knowledge Is Power Program (KIPP), and the California Charter Schools Association (CCSA).
“Reed has been a terrific board member, and his insights and experience have really helped guide us through a critical period of transformation for both Microsoft and the industry,” said Steve Ballmer, CEO, Microsoft.
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