Netflix has brought out a major shift in leadership by naming Jay Hoag as chairman of the board, succeeding Reed Hastings who concluded his formal governance role with the company he co-founded in 1997.

The streamlining platform made the announcement in an SEC filing on Friday, mentioning Hoag assumed the new position following its annual shareholder meeting conducted on June 4, 2026.

In an SEC filing released Friday, Netflix announced that the board appointed Jay Hoag as chairman, effective upon the conclusion of the company's annual meeting. The appointment took place on May 29, 2026.

“The Board determined it will no longer need a separate Lead Independent Director, as Mr. Hoag is an independent director under the applicable rules of the Securities and Exchange Commission and the listing standards of the Nasdaq Stock Market,” the company said.

In April, Netflix announced that Hasting is set to step down from his role, so he can focus more on his philanthropy and other personal pursuits. No one can deny his massive contributions related to the growth of Netflix, turning this a DVDs-by-mail business to a ‌global ⁠streaming giant.

Talking about his professional journey, Hoag is a long-standing figure at Netflix, having served as a director since 1999 and as the lead independent director for over 10 years.

Hoag is also a co-founder of Technology Crossover Ventures (TCV), a venture capital firm which is also an investor in Netflix for many years.

This change is restricted to the board level. Netflix continues to be led by co-CEOs Ted Sarandos and Greg Peters, who assumed operational leadership in 2023.