Netflix has appointed Jay Hoag, the founding general partner of venture capital firm TCV, as chairman of its board, following the departure of co-founder Reed Hastings from the company’s board of directors earlier this week.
Hoag, 67, is one of Netflix’s longest-serving board members, having joined the company’s board in 1999. Prior to his appointment as chairman, he served as the streaming giant’s lead independent director. Netflix said it does not plan to appoint a replacement for that role following Hoag’s elevation.
The leadership transition comes after a period of scrutiny surrounding Hoag’s board attendance. During Netflix’s 2025 shareholder meeting, investors voted to re-elect him to the board, reversing concerns raised a year earlier when proxy advisory firm Institutional Shareholder Services (ISS) recommended shareholders vote against his reappointment.
The recommendation stemmed from Hoag’s attendance record in 2024, when Netflix disclosed that he participated in two of the company’s four board meetings. Following the criticism, Hoag submitted his resignation to the board, but directors declined to accept it.
Netflix noted that Hoag attended all board and committee meetings for which he was eligible in 2025, a factor that contributed to his strong shareholder support during this year’s election cycle.
Beyond Netflix, Hoag serves on the boards of several prominent technology and consumer companies, including Zillow Group and Peloton Interactive.
His appointment marks a new chapter in Netflix’s governance structure as the company moves forward following Hastings’ departure from the board. Hastings co-founded Netflix in 1997 and played a pivotal role in transforming it from a DVD-by-mail service into one of the world’s largest streaming platforms.
