Netflix Marketing Chief to Step Down in Latest C-Suite Change

March 7, 2019, 7:53 PM UTC
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NEW YORK, NY - SEPTEMBER 29: Chief Marketing Officer at Netflix Kelly Bennett speaks onstage at the Micro-Moments, Macro-Opportunities: The New Rules of Media panel presented by Google during Advertising Week 2015 AWXII at the Times Center Stage on September 29, 2015 in New York City. (Photo by Laura Cavanaugh/Getty Images for AWXII)
Laura Cavanaugh—Getty Images

Netflix Inc. Chief Marketing Officer Kelly Bennett will step down after seven years at the job, extending a stretch of upheaval in the streaming giant’s top ranks.

Bennett oversaw marketing while Netflix grew from a relatively small streaming service into one of the world’s largest studios. The company now boasts more than 139 million customers and a market value of $155 billion.

Bennett, who is only in his mid-40s but amassed a significant amount of Netflix stock as a C-level executive, said he is retiring. He’ll stay in the role until a replacement is found.

“Kelly Bennett has been absolutely transformational for us as we expanded our member base in the U.S. and globally, and particularly as we transitioned into being a leader in original series and films,” Chief Executive Officer Reed Hastings said in a statement.

Netflix’s leadership — once quite stable — has undergone a remarkable level of turnover. In the past three years, Netflix has replaced its chief product officer, chief financial officer, chief talent officer, and chief communications officer.

The only two C-suite executives who haven’t changed are Hastings and Chief Content Officer Ted Sarandos.

As head of marketing, Bennett was charged with promoting Netflix all over the world. In recent years, much of those efforts shifted to publicizing specific titles instead of the service. Though Bennett was an architect of that strategy, much of that was also handled out of the corporate communications division, which Bennett didn’t lead.