Netflix founder leaves: Reed Hastings hands over

After running Netflix for almost 30 years and transforming a simple DVD rental service into a global streaming giant, he is officially stepping down from the board of directors of the company he co-founded. A page is turning for the N Rouge.

It’s the end of an era for Netflix. Co-founder of the group in 1997, Reed Hastings officially left the board of directors following the general meeting of shareholders on June 4.

Already retired from operational management since 2023, leaving the keys to the truck to Ted Sarandos, the 65-year-old businessman is now putting an end to nearly thirty years at the top of the company he helped build. Netflix specifies that Hastings now wishes to devote himself to his philanthropic activities as well as other personal projects, in particular the management of his ski resort in Utah.

Under his leadership, Netflix went from being a mail-order DVD rental service to becoming a world leader in streaming, lastingly revolutionizing the consumption of films and series. Successes like Stranger Things, The Bridgerton Chronicles or even Squid Game have helped make the platform a key player in global entertainment.

To succeed him as chairman of the board of directors, Netflix has chosen Jay Hoag, a board member since 1999 and an early investor in the company. Founder of the Technology Crossover Ventures (TCV) fund, Hoag had already served as lead independent director for more than a decade.

His arrival at the presidency is not entirely trivial. In 2025, shareholders overwhelmingly voted against his renewal on the board of directors due to his low attendance rate at meetings. Despite this distrust, Netflix had renewed its confidence in him. A year later, more than 93% of shareholders finally approved his re-election.

This transition comes as Netflix continues to show strong health under the leadership of its co-CEOs Ted Sarandos and Greg Peters. But with the definitive departure of Reed Hastings, it is one of the last direct links with the origins of the company which disappears.