Netflix (Nasdaq:NFLX) CFO Barry McCarthy Steps Down to Pursue Other Opportunities

After helping guide Netflix (Nasdaq:NFLX) successfully through their IPO in 2002 and aid them in successfully navigating the changing entertainment distribution business, CFO Barry McCarthy has decided to step down from the position to pursue other business opportunities.

Netflix Co-Founder and CEO Reed Hastings said, "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, Barry concluded that now is the right time to seek out those opportunities, and we will be cheering for him."

Another financial executive at the company, David Wells, will replace McCarthy as CFO.

Netflix closed Tuesday at $189.81, down $3.66, or 1.89 percent.