Netflix names longtime director Jay Hoag as chairman, succeeding Reed Hastings

Netflix names longtime director Jay Hoag as chairman, succeeding Reed Hastings 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. • 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.