After serving as Netflix’s chief financial officer for 11 years, Barry McCarthy has stepped down, according to a statement released by the company. McCarthy oversaw Netflix’s financials as it grew from a small upstart DVD-by-mail provider to a major player in the home entertainment industry.
Netflix CEO Reed Hastings offered the following praise for McCarthy in the company’s statement:
“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.”
Just what those “broader professional duties” might be remains to be seen. It will be interesting to see if McCarthy can join/found a company that reaches the dizzying heights that Netflix has achieved in recent years.
Will the company feel the sting from the loss of one of its core power players, or will the Netflix juggernaut roll on unimpeded?