The Globe and Mail reports in its Friday, April 17, edition that Netflix chairman Reed Hastings is leaving the company he co-founded 29 years ago as the streaming service regains its footing after losing its $72-billion (U.S.) deal for Warner Bros Discovery. A Reuters dispatch to The Globe reports that Netflix said Mr. Hastings will not stand for re-election at its annual meeting in June, and plans to focus on philanthropy and other pursuits. The co-founder is credited with helping to revolutionize how movies and television shows are delivered in homes, upending Hollywood's business model. "Netflix is growing revenues double-digits, expanding margins in 2026 and gushing free cash flow," LightShed Partners analyst Richard Greenfield said. "While the Q1 was uneventful financially, the departure of Reed Hastings has spooked investors." Netflix reaffirmed in a 14-page shareholder letter that its mission remains "ambitious and unchanged" -- to entertain the world, providing movies and series for many tastes, cultures and languages. The company's full-year outlook remained unchanged. The company did not say how it plans to spend the $2.8-billion (U.S.) termination fee it received after losing the movie studio and HBO.