Microsoft has added the chairman and CEO of Netflix to its
board of directors, increasing the size of the board from nine to 10 members.
Hastings has also been appointed to the finance committee.
“Reed’s track record for delivering innovative and
disruptive technologies to market is very impressive,” said Microsoft chairman
Bill Gates. “With his rich consumer and technology background, he will be a
tremendous addition to our board.”
Hastings founded Netflix in 1997, and the company ended 2006
with 6.3 million subscribers, having more than doubled in size over the last
two years. Prior to founding Netflix, Hastings founded Pure Software, later acquired
by Rational Software in 1997.
“There are very few companies that rival Microsoft’s impact
on the way millions of people live, work and play around the world,” Hastings
said. “I look forward to working with Microsoft’s esteemed group of board
members to help shape the direction of the company as it continues to tackle
the biggest industry challenges and opportunities.”
Microsoft’s board of directors also declared a quarterly
dividend of $0.10 per share, payable June 14, 2007, to shareholders of record
on May 17, 2007. The ex-dividend date will be May 15, 2007.