The Netflix logo is shown on one of their buildings in the Hollywood neighborhood of Los Angeles, California, U.S., December 2, 2025. REUTERS
(Reuters) – Netflix appointed lead independent director Jay Hoag as chairman of its board, succeeding Reed Hastings, who stepped down from the board of the streaming service he co-founded nearly three decades ago.
Here are some details on the move:
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The streaming platform announced the move in an SEC filing on Friday, saying Hoag assumed the role following its annual shareholders meeting on June 4.
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Netflix said in April that Hastings is quitting the company in order to focus on his philanthropy and other pursuits.
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Hastings transformed Netflix from a DVDs-by-mail business to a global streaming goliath that revolutionized the distribution of movies and television series.
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He also steered it through the COVID-19 pandemic, which boosted its growth even as other entertainment companies struggled.
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Hoag co-founded TCV, a growth equity firm, which has been an investor in Netflix for many years.
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Hoag has served on Netflix’s board since 1999 and was the lead independent director for more than a decade.
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He currently serves on the boards of Zillow Group and Peloton Interactive.
Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shreya Biswas
