wells: Wells said he's leaving to focus on philanthropy, according to The Toronto Star. Netflix's spending has also raised concerns about the company's financial health. Wells, 47, will help choose a successor and stay on until his replacement takes over to make sure the transition goes smoothly, Netflix said Monday in a statement. Though profitable, Netflix still spends more money than it makes each year. Netflix's has budgeted more than 8 billion U.S. this year to buy shows from rival companies and finance productions of its own. AFP/GETTY IMAGES file photo Wells guided Netflix's finances as the company defied skeptics' expectations of how much money it could spend on programming without going broke, pumping billions of dollars into new TV shows and movies.
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