Netflix Chief Content Officer Bela Bajaria exits amid major layoffs

Netflix replaced one of its top executives in a major management shake-up on Thursday, a day after the company announced it was laying off 6% of its staff. Chief Content Officer Bela Bajaria is leaving the company after a decade, Netflix said in a statement. She will be replaced by former Disney executive Peter Rice, who was most recently chairman of Walt Disney Television and chairman of general entertainment for Walt Disney Co. “Peter is one of the most effective at-scale operators in the entertainment industry," Netflix Co-Chief Executive Ted Sarandos said in the statement. "His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad."