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June 5 (Reuters) - Netflix appointed lead independent director Jay Hoag as chairman of its ‌board, succeeding Reed Hastings, who stepped ‌down from the board of the streaming service he co-founded ​nearly three decades ago.

Here are some details on the move:

• The streaming platform announced the move in an SEC filing on Friday, saying ‌Hoag assumed the ⁠role following its annual shareholders meeting on June 4.

• Netflix said in ⁠April that Hastings is quitting the company in order to focus on his philanthropy and other ​pursuits.

• Hastings ​transformed Netflix from ​a DVDs-by-mail business to ‌a global streaming goliath that revolutionized the distribution of movies and television series.

• He also steered it through the COVID-19 pandemic, which boosted its growth even as other entertainment companies struggled.

• ‌Hoag co-founded TCV, a ​growth equity firm, which has ​been an ​investor in Netflix for many years.

• ‌Hoag has served on Netflix's ​board since ​1999 and was the lead independent director for more than a decade.

• He currently ​serves on ‌the boards of Zillow Group and Peloton ​Interactive.

(Reporting by Harshita Mary Varghese in Bengaluru; ​Editing by Shreya Biswas)