The chief product officer of Netflix, Inc. (NASDAQ:NFLX), Neil Hunt, will be stepping down from his position in July this year. His position will be taken over by Greg Peters. During his tenure, Hunt has seen the online-streaming giant transition from being a DVD-renting service to an on-demand online video streaming service. The online streaming service was started in 2007.
Hunt, who possesses a computer science doctorate degree has been working at Netflix for the last 18 years having joined in 1999. Apart from leading in the development efforts and the launch of the online streaming service, Hunt has been overseeing all aspects of the user experience at Netflix.
“I’m delighted to be leaving the Netflix product organization in such great shape and in such good hands,” said Hunt in a statement.
Hunt’s successor has been working at Netflix for the last nine years. This has included leading development efforts while based at Netflix’s Tokyo office since 2015. Additionally he also had other responsibilities at Netflix Japan such as heading content licensing, content creation and marketing. Other roles that Peters has held include overseeing business development and product engineering for the wider Netflix group.
Before he joined Netflix, Peters had been Macrovision Solutions’ consumer electronics products senior vice president. Peters who is an alum of Yale University having obtained a physics and astronomy degree from the Ivy League institution has also worked at Wine.com, Red Hat Network and Mediabolic.
Other executive changes at Netflix include the departure of Tawni Cranz who is leaving the online streaming giant for an unknown destination. Netflix did not immediately reveal her replacement.
The executive changes come in the wake of rating changes at the video streaming company. Instead of a 5-star rating system, Netflix is adopting a system which simply uses a thumbs up or a thumbs down approach. The company said the reason for the change was to make the rating system more intuitive. This would result in a simplified recommendation system which would cut down on the time users spent browsing titles.
On Tuesday shares of Netflix Inc fell by 0.44% to close the day at $143.11.