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Netflix Shareholders Vote Out Board Member In Rare Repudiation; Streamer Weighs Resignation Offer


Netflix shareholders voted director and venture capital investor Jay Hoag off the board. The company is considering whether or not to accept his resignation.

In a year marked by some high-profile instances of shareholder activism, Netflix stockholders have voted director Jay Hoag, a venture capital investor, off the board. Accordingly, support for Jay Hoag is not considered warranted due to poor attendance,” ISS wrote in its report last month ahead of the June 5 shareholder meeting. Netflix noted today in an SEC filing that Hoag “did not receive a majority of votes cast in his election to the board of directors.

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Netflix Shareholders Vote to Oust Jay Hoag, Its Lead Independent Director, but the Board May Decide to Keep Him