Netflix Chief Content Officer Bela Bajaria is leaving, will be replaced by Peter Rice
- On Thursday, Netflix announced that former Disney executive Peter Rice will replace Chief Content Officer Bela Bajaria on October 26, as Bajaria departs after nearly a decade with the company.
- The leadership change follows a massive workforce reduction on Wednesday, when Netflix laid off about 1,000 employees, representing about 6 percent of its total workforce and its largest layoff round in four years.
- Rice previously served as Chairman of Walt Disney Television and Chairman of General Entertainment for The Walt Disney Company. "He understands what makes stories resonate," said Co-CEO Ted Sarandos, citing Rice's deep experience across film and television.
- Netflix will now have Rice oversee all scripted and unscripted series, film, and live events, leveraging his experience from networks including ABC, Hulu, and FX. "Netflix has fundamentally changed the way stories are made," Rice said.
- The hire arrives as Netflix faces slowing growth and engagement challenges; the streamer grew viewership on 200 billion hours of watching by just 2 percent in the first half of 2026. Co-CEO Ted Sarandos acknowledged the company is not growing as fast as desired.
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