Netflix names former Disney executive Rice as new content chief as Bajaria departs

Netflix announced Thursday that it has selected former Disney executive Peter Rice as its new chief content officer, effective October 26. Bela Bajaria, who has been with the company for nearly a decade, will be departing. Rice will be responsible for overseeing Netflix's content strategy across series, films, and live events in various regions. Prior to joining Netflix, Rice served as chairman of Walt Disney Television and general entertainment at The Walt Disney Company.

Bajaria joined Netflix in 2016 and was appointed chief content officer in January 2023. During her tenure, Netflix produced popular shows like "Bridgerton" and "Squid Game," and expanded its live programming through partnerships with WWE and the NFL. The announcement of Rice's appointment comes on the same day Netflix announced internal layoffs, cutting around 1,000 employees, marking its largest workforce reduction since 2022.

Netflix has faced concerns about sustaining growth, as competition from platforms like YouTube and TikTok, which offer free, user-generated content, has become a key issue for investors.