In a surprising move, Scott Stuber, the driving force behind Netflix Inc.’s (NASDAQ:NFLX) ascension to Hollywood’s top movie studio, has announced his departure scheduled for March. Stuber plans to leave his position at Netflix to launch his own business.
What Happened: According to a Bloomberg report, Stuber will retain his global film chairman role until the March Academy Awards ceremony. Following this, he will shift towards independently producing films and television shows. Stuber has reportedly secured financial backing for his upcoming venture, as stated by sources close to him.
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For the foreseeable future, Netflix’s film team will be under the supervision of Chief Content Officer Bela Bajaria as the company initiates a search for Stuber’s successor. Stuber’s exit signals the conclusion of a noteworthy era for Netflix and the commencement of a new journey for him.
Why It Matters: Stuber was behind Netflix’s decision last year ...