Dive Brief:
- Netflix has appointed Airbnb CFO Ellie Mertz to serve on its board of directors, the streaming giant said Tuesday.
- “Ellie's tenure at Airbnb, combined with her deep understanding of Netflix, makes her uniquely positioned to contribute to our strategic vision,” Netflix co-CEOs Ted Sarandos and Greg Peters, said in a press release. “Her experience as a public company finance professional and leader will be invaluable as we accelerate innovation and continue to entertain the world.”
- Mertz previously served in various finance roles at Netflix from 2006 to 2013. She currently serves on the boards of DoorDash and Faire Wholesale.
Dive Insight:
The news comes amid a broader leadership shakeup at the Los Gatos, California-based streaming company.
Netflix announced in January 2023 that its founder, Reed Hastings, was stepping down as co-CEO and would serve as executive chairman instead. Peters was promoted from chief operating officer to become a co-CEO with Sarandos.
“Our board has been discussing succession planning for many years (even founders need to evolve!),” Hastings said in a statement at the time.
About two months ago, Hastings pulled back further from his Netflix role, transitioning to non-executive chairman of the board. At the time, the company said the change was “part of the natural evolution of our leadership structure and succession planning.”
Mertz was appointed to the Netflix board on June 22 effective immediately for a term expiring at the company's 2026 annual meeting of stockholders, “or until her earlier resignation or removal,” according to a Tuesday securities filing. Like other non-employee directors, she will receive stock options pursuant to the company’s director equity compensation plan, the filing said.
Mertz has spent the past 12 years at Airbnb, according to her LinkedIn page. She became CFO in March 2024 after serving as vice president of finance and head of global financial planning and analysis.
Prior to joining Airbnb, she spent seven years at Netflix, serving in various finance roles, including vice president of finance.
