June 5 (Reuters) – Netflix appointed lead impartial director Jay Hoag as chairman of its board, succeeding Reed Hastings, who stepped down from the board of the streaming service he co-founded practically three a long time in the past.
Listed here are some particulars on the transfer:
• The streaming platform introduced the transfer in an SEC submitting on Friday, saying Hoag assumed the position following its annual shareholders assembly on June 4.
• Netflix stated in April that Hastings is quitting the corporate in an effort to deal with his philanthropy and different pursuits.
• Hastings remodeled Netflix from a DVDs-by-mail enterprise to a world streaming goliath that revolutionized the distribution of flicks and tv collection.
• He additionally steered it by the COVID-19 pandemic, which boosted its progress at the same time as different leisure firms struggled.
• Hoag co-founded TCV, a progress fairness agency, which has been an investor in Netflix for a few years.
• Hoag has served on Netflix’s board since 1999 and was the lead impartial director for greater than a decade.
• He presently serves on the boards of Zillow Group and Peloton Interactive.
(Reporting by Harshita Mary Varghese in Bengaluru; Modifying by Shreya Biswas)
