Netflix Chief Content Officer Bela Bajaria is leaving, will be replaced by Peter Rice
Netflix announced Bela Bajaria will be replaced by former Disney exec Peter Rice as the company's chief content officer.
Key points
- Netflix announced Bela Bajaria will be replaced as chief content officer by Peter Rice on Oct. 26.
- Rice, a former Disney executive, will oversee Netflix's global content organization.
- The change follows Netflix layoffs of about 6% of its workforce, roughly 1,000 jobs.
Netflix announced Thursday that Bela Bajaria will be replaced as chief content officer by former Disney executive Peter Rice, effective Oct. 26. Rice most recently oversaw Disney's cable channels, news programming and coverage of major sporting events.
Bajaria is leaving Netflix after nearly 10 years. She most recently led the company's global content team and had focused on its live sports strategy, aiming to create events from buzzy games and tournaments.
What executives said
Co-CEO Ted Sarandos said in a statement, "Peter is one of the most effective at-scale operators in the entertainment industry." Sarandos added he was excited to welcome Rice as chief content officer as Netflix continues to scale and deliver stories members love.
Netflix called Rice "one of the entertainment industry's most respected creative executives." Rice said Netflix has "shown again and again that they're willing to take chances on distinctive voices and fresh ideas," and that he was excited to help bring more great stories to members everywhere.
Sarandos also said of Bajaria, "I'm incredibly grateful for everything she's done to help Netflix entertain the world."
Peter is one of the most effective at-scale operators in the entertainment industry
— Ted Sarandos
Background and impact
Before Disney, Rice held roles at 21st Century Fox and Fox Searchlight Pictures. In his new role, he will oversee Netflix's global content organization, including scripted and unscripted series, film and live events.
The announcement came a day after Netflix instituted layoffs across its organization, eliminating approximately 6% of its workforce, or roughly 1,000 jobs. Shares of the company are down more than 20% this year, though the stock remained relatively unchanged in extended trading Thursday. Netflix will report its next quarterly earnings on Tuesday.
