Streaming giant Netflix (NFLX) has announced that its Chief Product Officer Eunice Kim is leaving the company.
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Kim had been in the role of Chief Product Officer since October 2023. In that position, she oversaw the look and feel of the streaming service. Netflix didn’t provide a reason for Kim’s departure or say when her last day at the company would be.
However, the streaming service said that Elizabeth Stone, currently the chief technology officer (CTO) at Netflix, will fill Kim’s role until a permanent replacement for her is found. Kim and Stone had been appointed to their respective roles at the same time in 2023.
Crucial Time for Netflix
Kim first joined Netflix in 2021 as head of the Consumer Product Innovation team. She previously spent 10 years in product leadership roles at Alphabet (GOOGL)-owned Google Play and YouTube. Kim also served at several tech start-ups, as well as at PepsiCo (PEP) and Adobe (ADBE).
Kim holds a Bachelor of Arts degree from Columbia University and an M.B.A. from the University of Chicago. Her departure comes at an important time for Netflix as the company competes vigorously in the streaming space. Netflix is in the process of adding more live programming to its streaming platform, notably sports events. It is also cracking down on password sharing among people.
Is NFLX Stock a Buy?
The stock of Netflix has a consensus Moderate Buy rating among 37 Wall Street analysts. That rating is based on 25 Buy, 11 Hold, and one Sell recommendations issued in the last three months. The average NFLX price target of $1,395.00 implies 11.48% upside from current levels.
