Peter Rice replaces Bela Bajaria as Netflix chief content officer

Netflix announced on Thursday that Chief Content Officer Bela Bajaria is leaving the company, as reported by CNBC Media, The Wrap, the Los Angeles Times, Deadline, IndieWire, Variety, and The Hollywood Reporter. She will be replaced by former Disney executive Peter Rice, with the appointment taking effect on October 26, according to CNBC Media and Deadline. [1][2][4][5][6][7][8][10][11]

The executive change comes immediately after major corporate restructuring at the streaming service. The Wrap, the Los Angeles Times, and Deadline reported that Netflix laid off approximately 1,000 employees, representing 6 percent of its staff, just one day prior to the executive announcement. [2][4][6]

Rice, who also formerly served as a Fox executive according to The Wrap, most recently oversaw Disney cable channels, news programming, and major sporting events, CNBC Media reported. Netflix co-chief executive officer Ted Sarandos stated that Rice is an effective at-scale operator in the entertainment industry. [1][2][4]

Bajaria joined Netflix in 2016, initially overseeing unscripted and scripted series before being promoted to chief content officer in January 2023. During her tenure, she oversaw global content teams, expanded international reach, led a push into live programming, and secured major corporate partnerships with WWE and the NFL, according to The Wrap and the Los Angeles Times. [2][4][6][12]