Reed Hastings joins Microsoft board

MARCH 26 | Microsoft Corp. named Netflix chairman and CEO Reed Hastings to its board of directors Monday, adding a tenth spot on the company’s board for his appointment.

“Reed’s track record for delivering innovative and disruptive technologies to market is very impressive,” Microsoft chairman Bill Gates said in a statement. “With his rich consumer and technology background, he will be a tremendous addition to our board.”

Microsoft has been stepping up its presence in the entertainment business recently, launching movie downloads through its Xbox Live Marketplace in November and putting out an HD DVD add-on drive for the Xbox 360, while aggressively promoting the high-def format.

Hastings will serve on the board’s finance committee. He is the only member of the board from an outside Internet company.