Reed Hastings, who co-founded Netflix in 1997 and served as its CEO from 1999 to 2023, will not seek re-election to the company's board when his current term as chairman expires at the June Annual Meeting. The departure, disclosed alongside Netflix's quarterly earnings, marks a clean break from the executive structure Hastings built over nearly three decades. Hastings transitioned from CEO to non-executive chairman in early 2023, handing operational control to co-CEOs Greg Peters and Ted Sarandos. His exit now removes the last formal governance link between Netflix's founding era and its current leadership. In a statement included in the earnings release, Hastings framed his legacy around organizational culture and long-term member focus rather than individual decisions, a signal that he views the leadership succession as complete. For investors, the question shifts to whether the Peters-Sarandos dual-CEO model holds as Netflix navigates password-sharing monetization, advertising tier growth, and live content investment.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
