![The streaming platform announced the move in an SEC filing on Friday. [File]](https://www.thehindu.com/theme/images/th-online/1x1_spacer.png "The streaming platform announced the move in an SEC filing on Friday. [File]")
The streaming platform revealed the relocation in an SEC filing on Friday. [File] |Picture Credit: Reuters
Netflix designated lead independent director Jay Hoag as chairman of its board, prospering Reed Hastings, who stepped down from the board of the streaming service he co-founded almost 3 years back.
The streaming platform revealed the relocation in an SEC filing on Friday, stating Hoag presumed the function following its yearly investors fulfilling on June 4.
Netflix stated in April that Hastings is giving up the business in order to concentrate on his philanthropy and other pursuits.
Hastings changed Netflix from a DVDs-by-mail organization to a worldwide streaming goliath that changed the circulation of motion pictures and tv series.
He likewise guided it through the COVID-19 pandemic, which improved its development even as other home entertainment business had a hard time.
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Hoag co-founded TCV, a development equity company, which has actually been a financier in Netflix for several years.
Hoag has actually served on Netflix’s board because 1999 and was the lead independent director for more than a years.
He presently serves on the boards of Zillow Group and Peloton Interactive.
Released – June 06, 2026 12:29 pm IST