Netflix Shareholders Reject Venture Capitalist Jay Hoag Over Absences, Board May Retain Lead Independent Director

Netflix Inc. shareholders voted overwhelmingly against the reelection of Jay Hoag, the venture capitalist and lead independent director of the streaming company, citing his frequent absences from board meetings. Despite the shareholder vote to oust him, the Netflix board is expected to deliberate on whether to accept Hoag's offer to resign or retain him in his position. Hoag has been a board member since the company's early days and has overseen a period of strong stock performance, making the vote outcome unexpected.