Current and former Netflix executives reportedly uneasy over Ted Sarandos's strategy

Deadline reports that a group of mostly former and some current Netflix executives has banded together in opposition to the strategy of co-CEO Ted Sarandos. The report comes weeks after Netflix let go of content chief Bela Bajaria, film boss Dan Lin and about 6% of its workforce, and after Peter Rice took over content.

According to Deadline, the group splits into two camps. One is worried about the share price, which is down more than 45% from a year ago and closed at $62.10 on 30 October, its lowest level since August 2024. The other is troubled by what it sees as a move away from Netflix's kill-or-be-killed, performance-based culture toward "just another studio" where politics decide success. Deadline says the culture complaint is the stronger one among former vice presidents.

The report says the dissenters have not yet made a direct move against Sarandos. Early discussions reportedly involve asking a "heavy hitter" to persuade co-founder Reed Hastings to urge the board to change leadership. Names mentioned as possible messengers are Cindy Holland, Todd Yellin and Lisa Nishimura, though the report says none is formally part of the group. Deadline describes the plan as preliminary.

Hastings did not respond to Deadline's request for comment, and Netflix had no comment. A source close to the company said Sarandos, Peters and Hastings have a strong relationship and that there are no plans for Hastings to return. Deadline also notes Netflix has almost no debt and 31% operating margins.