Netflix CFO David Wells Announces He’s Stepping Down

August 13, 2018, 4:00 PM UTC

Netflix’s Chief Financial Officer David Wells announced Monday that he will step down from his executive role after a successor is found. Wells, who has been with the company since 2004 and became CFO in 2010, is credited with upholding Netflix’s finances as it grew into the booming video streaming service it is today.

“David has been a valuable partner to Netflix and to me,” said Reed Hastings, Netflix Chief Executive Officer, in a statement. “He skillfully managed our finances during a phase of dramatic growth that has allowed us to create and bring amazing entertainment to our members all over the world while also delivering outstanding returns to our investors.”

The company says they will consider “both internal and external candidates” in their search for a new CFO. Wells plans to “focus more on philanthropy” in his future, but said in a statement that he’s “not sure yet what that looks like.”

According to Variety, Wells helped expand Netflix’s outreach to more than 190 countries, particularly between 2015 and 2017, when he lived and worked in the Netherlands to focus on the company’s European branches.

Prior to Netflix, Wells worked at Deloitte Consulting, according to his LinkedIn profile. Since 2016, he’s served on the board for The Trade Desk, an ad tech company. Wells holds an MBA and MPP from the University of Chicago.

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