Netflix Chief Content Officer Bela Bajaria Out, to be Replaced by Peter Rice

Netflix's Chief Content Officer, Bela Bajaria, is departing the company and will be succeeded by Peter Rice, according to an insider. Bajaria joined Netflix in 2016 and took on the position of Chief Content Officer early in 2023. During her tenure, Netflix has produced popular shows like "Bridgerton," "Arcane," and "Squid Game," and has formed exclusive deals with WWE and NFL.

Netflix co-CEO Ted Sarandos praised Bajaria for her dedication, creativity, and leadership, noting that she led significant changes, including expanding unscripted programming and launching live events and sports. Bajaria's exit follows a company-wide layoff of about 1,000 employees, or 6% of its workforce, amid declining user engagement in 2026.

The stock price of Netflix has plummeted nearly 40% compared to last year. Despite these challenges, Netflix is set to venture into theatrical distribution with movies like Javier Calvo and Javier Ambrossi's "La Bola Negra" and David Fincher's "The Further Misadventures of Cliff Booth." Peter Rice, a former Disney and Fox executive, will assume the role of Chief Content Officer.

He is known for his effective operations, strong talent relationships, and deep experience in TV and film. Rice joined 20th Century Fox in 1989 and became its president in 2017 before becoming chairman of Walt Disney Television after Disney's acquisition. He has produced several films, including "Saturday Night," "Warfare," "28 Years Later," and "Misty Green," among others.