Netflix shareholders vote the member of the Jay Hoag Board of Directors in a rare repudiation

In one year marked by certain cases of high level of shareholders’ activism, Netflix The shareholders voted for director Jay Hoag, a venture capital investor, outside the board of directors.

The vote follows a recommendation by the main proxy consulting firm. The ISS, which issues in -depth analyzes of voting problems during annual meetings of many public companies, including the election of administrators, had recommended a vote against HOAG for poor attendance – or not presenting at least 75% of its total meetings of the board of directors and committees in 2024 without disclosing the reason for absences.

He received only 21.6% of support from the votes expressed, a rare example of shareholders rejecting a candidate for the board of directors. Earlier this week, Warner Bros. shareholders. Discovery voted in large numbers against the remuneration of the company of its best executive officers led by CEO David Zaslav. His package of $ 51.9 million did not succeed in a so-called speech, which is non-binding but a final red flag.

“Jay Hoag did not attend at least 75% of the total of the board of directors and the committee on which he served during the financial year during the exam. More specifically, Hoag only attended 50% of these meetings. Recommendations will be issued with regard to this director in the absence of a valid reason.

Netflix noted today in a dry file that Hoag “had not received the majority of the votes expressed during its elections from the board of directors. In accordance with the policy of resignation of the company’s administrator on June 5, 2025, Mr. Hoag offered his resignation from the board of directors, conditioned on the acceptance of the Council. Resignation or will take other measures.

The results of the shareholders’ vote exposed in the file showed 71.4 million votes and nearly 260 million votes against the director, who also sits on the advice of Peloton, Zillow and Tripadvisor.

In Netflix, he was principal independent director sitting on the appointment committee and the governance committee, where he was president. He has been a member of the Netflix board of directors since 1999.

“As an investor in venture capital, Mr. Hoag provides strategic information and financial experience to the board of directors. Deposit where companies list all administrators a re -election.

HOAG HAS ALSO BEN A TECHNOLOGY INVESTOR AND VENTURE CAPITALIST FOR MORE THAN 40 YEARS, THE GIANT STREAMER NOTED, “Involved in Numerous Technology Investments, Including Actuate Software (Acquired by OpenText), Airbnb, Ariba (Acquired by SAP), Altiris (Acquired by Symantec) BlueCoat Systems (Formly Cacheflow), C | net, Eharmony, Electronic Arts, Cabromass (Acquired by Yahoo!), Exe Technologies (acquired by SSA Global), Expedia, Facebook, Fandango (acquired by Comcast), Groupon, LinkedIn, Onyx Software, Peloton, Prode ( By a capital company), RealnetWorks, Sportradar, Spotify, Spring Tripadvisor, Vacationspot.com (acquired by Expedia), Vant (acquired by IXL) and Zillow.