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.
Flipkart will launch a food delivery pilot in Bengaluru by mid-August, charging restaurants a 10-11% commission compared to the 25-35% levied by Swiggy and Zomato. The move targets growing restaurant discontent with incumbent platforms and aims to drive daily engagement across Flipkart's 500 million registered users.
Maruti Suzuki crossed two lakh domestic units in July 2026 for the first time, recording 42.4% year-on-year growth. Total sales including exports and OEM supplies reached 2,41,421 units, with all passenger vehicle segments posting gains.
Air India's net loss more than doubled to ₹22,238 crore in FY26, prompting Tata Sons chairman N Chandrasekaran to extend the Vihaan.AI turnaround timeline from five years to as long as a decade.
UpGrad's all-stock acquisition of Unacademy, valued at Rs 1,955 crore, is set to close within three weeks after CCI clearance and near-complete investor sign-offs. The deal combines upGrad's upskilling business with Unacademy's test prep and medical education platforms, with Gaurav Munjal staying on as CEO.
