Netflix: Jay Hoag appointed president, succeeding co-founder Reed Hastings
A board member since 1999, Jay Hoag served as lead independent director for over ten years
The American streaming giant Netflix has appointed Jay Hoag, a former director, as chairman of the board of directors, following the departure of co-founder Reed Hastings, which was announced in mid-April. This was revealed in a document filed on Friday with the Securities and Exchange Commission (SEC). Netflix has clarified that the new chairman took up the post following the shareholders’ meeting held on Thursday.
A board member since 1999, Jay Hoag has served as lead independent director for over ten years. He also sits on the boards of Zillow, an online property portal, and Peloton, a company specialising in home fitness equipment.
In mid-April, Netflix announced the imminent departure of Reed Hastings, 65, at a crucial juncture for the company, which remains confident about its future despite the failure of its multi-billion-dollar bid to acquire Warner Bros Discovery. Hastings, who said he wanted to devote more time to his philanthropic activities, had not held any operational roles since stepping down as the company’s co-CEO in January 2023. He had founded Netflix alongside Marc Randolph in 1997.
In the first quarter of 2026, Netflix reported a net profit of $5.28 billion (approximately €4.58 billion), partly due to the $2.8 billion received as compensation for the breakdown of acquisition talks with Warner Bros Discovery, which is now reportedly set to be acquired by Paramount Skydance.
