Netflix appoints Peter Rice as chief content officer after Bela Bajaria exit

The streaming giant announced Peter Rice will take over as chief content officer as Bela Bajaria leaves after a decade, coinciding with its largest workforce reduction.

By Felo News Desk · Published Thu, 15 Oct 2026 22:51:56 GMT

Netflix announced that Peter Rice will replace Bela Bajaria as chief content officer, effective immediately, as the company confirms Bajaria’s departure after ten years at the streamer.

What happened

Bela Bajaria, who joined Netflix in 2016 and became chief content officer in 2023, is leaving the company. The change follows the layoff of roughly 1,000 employees – about 6% of Netflix’s workforce – announced earlier in the week. The cuts, described as the company’s largest to date, were reported on 2026‑10‑14 in Felo’s coverage of the layoffs.

What the reports add

Variety reported that Peter Rice, a former Disney and 20th Century Fox executive, will lead Netflix’s global content organization, overseeing scripted and unscripted series, film, live events and sports across all regions. The Hollywood Reporter added that Rice previously oversaw all of Disney entertainment before leaving the company under Bob Chapek’s tenure. Both outlets note that the layoff wave marks Netflix’s first large‑scale cuts in four years.

What was said

Netflix co‑CEO Ted Sarandos said in a statement, “I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” and praised her role in expanding unscripted programming, live events and sports. The statement was quoted by Variety. The Hollywood Reporter referenced a past comment from Netflix founder Reed Hastings, who likened the company to a championship sports team, explaining why senior leaders may be replaced.

How it came about

Bajaria’s rise at Netflix began after she left NBCUniversal, where she had been president of Universal Television. She was hired as a vice president in 2016, later led all TV operations, and was promoted to chief content officer in 2023. The executive shift occurs as Netflix implements a 6% workforce reduction, a move first hinted at in a 2026‑10‑09 Felo article that suggested possible 5% staff cuts ahead of the company’s Q3 earnings. The layoffs affect product, tech, legal and HR teams, and come amid a broader industry trend of cost‑disciplining ahead of earnings reports.

Key facts

Peter Rice will become Netflix’s chief content officer. (variety.com)
Bela Bajaria is leaving Netflix after ten years. (hollywoodreporter.com)
Netflix cut about 1,000 jobs, roughly 6% of its workforce. (hollywoodreporter.com)
Sarandos thanked Bajaria in a statement. (variety.com)