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Netflix, Its Troubles Ongoing, Changes Management Team

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By Douglas A. McIntyre Published
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Netflix (NASDAQ: NFLX), it share price cleaved to about a third of its peak because of an increase of what it charges customer, hundreds of thousands of cancellations from subscribers because of the move, and a soaring cost of programming, changed its management line-up

Leslie Kilgore, its Chief Marketing Officer for the last 12 years, will join the Netflix board as a non-executive director. The company also reported that it had appointed Jessie Becker, interim Chief Marketing Officer and Jonathan Friedland, Chief Communications Officer.

While the company gave no reason for the changes, it is likely that Kilgore has been saddled with some of the blame for the decision to raise prices and the failure of the company to manage the backlash that resulted. The other person most likely to be blamed is CEO and founder Reed Hastings, and the board is unlikely to take any action against him because of his status and shareholdings.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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