Netflix CEO Staying On Facebook Board Despite Growing Rivalry

Netflix Chief Executive Officer Reed Hastings is up for re-election in his role of a Facebook director, the social media giant revealed in a Friday filing with the United States Securities and Exchange Commission. Despite the fact that Facebook’s commitments to original programming are now placing it on course to eventually compete with Netflix on a large scale, Mr. Hastings is likely to spend at least one more year on the company’s Board of Directors. During a Saturday TED conference held in Vancouver, Canada, Netflix chief said the $ 8 billion he’s planning to invest in programming over the course of this year isn’t “as much as it sounds” in the conte…
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