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

Netflix Chief Content Officer Bela Bajaria announced her departure from the company and will be succeeded by former Disney and Fox executive Peter Rice. Bajaria joined Netflix in 2016 and took on the creative role in early 2023, during which time the streaming giant released major hits such as "Bridgerton," "Arcane," and "Squid Game."

She oversaw Netflix's expansion into unscripted programming, live events, and sports, while also leading a slate of films and series. In a statement, co-CEO Ted Sarandos praised Bajaria's contributions to the company, noting the enormous changes she has made to broaden Netflix's content offering. Bajaria's exit comes as Netflix has laid off approximately 1,000 employees, or 6% of its workforce, amid declining user engagement in 2026.

The company's stock price has also dropped nearly 40% from a year ago. Netflix is preparing to enter theatrical distribution with films like Javier Calvo and Javier Ambrossi's Oscar hopeful "La Bola Negra," as well as David Fincher's "The Further Misadventures of Cliff Booth" and Greta Gerwig's "Narnia: The Magician's Nephew." With several high-profile creatives leaving Netflix, the company is turning to Rice, who has a successful track record of working with renowned filmmakers such as Danny Boyle.

Rice expressed excitement about joining Netflix and bringing more great stories to members worldwide, while acknowledging the company's unique approach to storytelling. Bajaria began her career at NBCUniversal and produced hit shows like "Unbreakable Kimmy Schmidt" before joining Netflix in 2016.