Netflix Rejects Jay Hoag Resignation, Adds Airbnb CFO Ellie Mertz to Board

Netflix has rejected the resignation of venture capitalist Jay Hoag from its board of directors despite him receiving a negative vote from shareholders due to low attendance in 2024. The board cited Hoag's long-standing valuable contributions, strategic insights, and his commitment to returning to a higher attendance rate, noting his 97% attendance in the five years prior to 2024. Concurrently, Netflix appointed Ellie Mertz, Airbnb's CFO and a former Netflix vice president of finance, to the board, where she will also serve on the audit committee. Mertz’s deep understanding of Netflix and her public company finance experience were highlighted by Netflix’s co-CEOs as key assets for advancing the company’s strategic vision. These moves come as Netflix positions itself for continued growth in the competitive streaming market, supported by positive analyst forecasts and strategic initiatives in advertising and content creation. The board's decisions underscore a balance between honoring Hoag's historical contributions and injecting fresh financial expertise through Mertz’s appointment.