Netflix names longtime director Jay Hoag as new chairman

Netflix has officially appointed its lead independent director, Jay Hoag, as the new chairman of its board. Hoag succeeds billionaire co-founder Reed Hastings, who has stepped down from the board of the streaming powerhouse he helped launch nearly three decades ago.

According to an SEC filing, Hoag assumed the leadership role following the company's annual shareholders meeting. The transition follows Netflix's announcement that Hastings would be exiting the board to dedicate his time to philanthropy and other personal ventures, News.Az reports, citing Reuters.

Hastings leaves behind an unmatched legacy in modern media. He famously transformed Netflix from a fledgling DVD-by-mail service into a global streaming giant, entirely revolutionizing how movies and television series are distributed and consumed. He also successfully steered the entertainment heavyweight through the COVID-19 pandemic, capturing massive subscriber growth while traditional Hollywood rivals scrambled to adapt.

Hoag brings deep institutional knowledge to his new role as chairman. As the co-founder of growth equity firm TCV—a longtime Netflix investor—Hoag has served on the Netflix board since 1999 and spent more than a decade as its lead independent director. Beyond his work with the streaming giant, Hoag also holds board seats at Zillow Group and Peloton Interactive.

News.Az 

By Aysel Mammadzada