Reed Hastings Officially Exits Netflix As Shareholder Vote Confirms New Board Chairman

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Reed Hastings, who co-founded Netflix 29 years ago, has officially stepped down from the company following Thursday's shareholder vote. Venture capitalist Jay Hoag, a longtime Netflix investor and board member, was elected as the new chairman in an SEC filing released Friday. Hastings' departure marks the end of an era for the streaming giant he built from the ground up. The transition comes as Netflix continues to navigate an increasingly competitive streaming landscape.