Netflix Picks Investor Jay Hoag as Chairman After Hastings (1)

Netflix Inc. named Jay Hoag, founding general partner of the investment firm TCV, as chairman, to replace co-founder Reed Hastings, who left the board this week.

Hoag, 67, who also serves on the boards of Zillow Group Inc. and Peloton Interactive Inc., has been a Netflix board member since 1999. He had served as Netflix’s lead independent director, but the streaming TV giant said it no longer needed to fill that role with Hoag’s ascension to chairman.

Shareholders last year voted not toreelect Hoag after the proxy adviser Institutional Shareholder Services recommended they do so ...