Netflix CFO Calls it Quits

Paul Lilly

After more than a decade of service, Barry McCarthy is stepping down as the Chief Financial Officer (CFO) of Netflix in order to "pursue broader executive opportunities outside the company," Netflix announced on Tuesday. Taking his place is company finance veteran David Wells, who will step into his new role at the end of the week.

"We are lucky to have an executive with David's proven financial skill and operating impact within the company and I am confident he will continue to serve Netflix extremely well as CFO," said Netflix Co-Founder and CEO Reed Hastings. "At the same time, we offer both great gratitude and sincere best wishes to Barry. Over the last few years, Barry has balanced his affection for Netflix – and the excitement all of us have felt by the tremendous growth of the company – with his personal desire for broader professional opportunities. Barry concluded that now is the right time to seek out those opportunities, and we will be cheering for him."

It's hard to imagine wanting to jump ship at this point as Netflix makes the transition from primarily a DVD-by-mail company into mostly a streaming service, and where McCarthy goes from here, only he knows. Netflix currently serves nearly 17 million subscribers in the U.S. and Canada, many of which pull streaming content from their laptops, gaming consoles, Internet connected TVs, Netflix-enabled Blu-ray players, iPads, and more.

Image Credit: Netflix

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