Netflix picks investor Jay Hoag as chairman after Hastings – CNBC TV18

Netflix Inc. named Jay Hoag, founding normal companion of the funding agency TCV, as chairman, to exchange co-founder Reed Hastings, who left the board this week.

Hoag, 67, who additionally serves on the boards of Zillow Group Inc. and Peloton Interactive Inc., has been a Netflix board member since 1999. He had served as Netflix’s lead impartial director, however the streaming TV large stated it now not wanted to fill that function with Hoag’s ascension to chairman.

Shareholders final yr voted to not reelect Hoag after the proxy adviser Institutional Shareholder Companies beneficial they achieve this due to his poor attendance at board conferences in 2024. Netflix stated he attended two of the 4 conferences that yr. Hoag supplied his resignation, however the board didn’t settle for.

Netflix stated he attended all board and committee conferences that he was eligible to attend in 2025, and that shareholders overwhelmingly reelected him this yr.