Netflix announces departure of Chief Content Officer Bela Bajaria and appointment of Peter Rice

Netflix said on Tuesday that Bela Bajaria, who joined the streaming service in 2016 and was promoted to chief content officer in January 2023, will leave the company after ten years. The announcement follows a restructuring that included layoffs of roughly 1,000 staff members.

Peter Rice, a former Disney executive, will replace Bajaria as chief content officer beginning next week. Rice previously led Fox Searchlight and chaired Walt Disney Television, overseeing a range of television series, films and major sporting events.

Co-CEO Ted Sarandos thanked Bajaria for her contributions, noting her role in expanding Netflix’s unscripted programming, live events, sports and global film slate. > "I want to thank Bela for a decade of dedication, innovation, creativity and leadership," Sarandos said in an internal email.

Sarandos also addressed the company’s recent performance, acknowledging slower growth and challenges with second-season ratings for shows such as "Beef" and "The Four Seasons," while stating that the issue has improved this year.

The streaming service plans a town-hall meeting on October 21 for employees to discuss the recent changes and the company’s strategic direction.