Netflix names longtime director Jay Hoag as chairman, succeeding Reed Hastings
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June 5 : 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:
• 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.
• 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.
• Hoag co-founded Technology Crossover Ventures, a leading venture capital firm which has been an investor in Netflix for many years.
• Hoag has served on Netflix's board since 1999 and was the lead independent director for more than a decade.
• He currently serves on the boards of Zillow Group and Peloton Interactive.
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