Shares in ​Netflix fell sharply ‌in Europe on Friday ​after the ​company forecast revenue ⁠growth below expectations ​and as ​chairman and co-founder Reed Hastings said ​he ​would not seek re-election.

By ‌0603GMT, ⁠the streaming service’s Frankfurt-listed shares were ​down ​8.7%. ⁠

Netflix shares in ​New York ​have ⁠risen about 15% this ⁠year.