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.

Dan Lin clarified that the streamer's decision to give Greta Gerwig's 'Narnia' movie a wide theatrical release, the first ever for a Netflix movie, was an "exception."

Netflix may be giving two major theatrical releases, but it still isn’t changing its stance on cinemas. They are backing high-profile projects from Greta Gerwig‘s Narnia and Brad Pitt‘s The

Reed Hastings is leaving Netflix, the media pioneer he co-founded 29 years ago, after his term as board chairman ends in June.

It’s a changing for the guard for Netflix’s board. Executive chairman Reed Hastings, the company’s co-founder who served as CEO for 25 years and drove it to become the world’s leading premium streamer,

Despite the runaway success of Obsession, Backrooms, and sleepers like Sheep Detectives, Netflix is sticking with its position that theaters are outmoded. That is, unless it’s Greta Gerwig’s upcoming Narnia movie and David Fincher’s Once Upon A Time… In Hollywood sequel, both of which will bow in theaters.

The first week of June is not yet over, but we're already seeing reports trickling out about what content Netflix will be adding in July. Each month, Netflix performs extensive housekeeping of its streaming inventory.