Netflix CFO Resigns; Stock Falling After Hours (NFLX)

Netflix NFLX announced today that its CFO Barry McCarthy has resigned and is seeking to pursue broader executive opportunities outside the company. Company finance veteran David Wells will replace McCarthy effective December 10. Mr. McCarthy has served as NFLX's CFO since 1999. In the after hours trading session, NFLX has lost 3.05% to $184.02. The press release included a statement from Netflix co-founder and CEO Reed Hastings which is included below. "We are lucky to have an executive with David's proven financial skill and operating impact within the company and I am confident he will continue to serve Netflix extremely well as CFO," said Netflix Co-Founder and CEO Reed Hastings. "At the same time, we offer both great gratitude and sincere best wishes to Barry. Over the last few years, Barry has balanced his affection for Netflix – and the excitement all of us have felt by the tremendous growth of the company – with his personal desire for broader professional opportunities. Barry concluded that now is the right time to seek out those opportunities, and we will be cheering for him."