Netflix Chief Content Officer Bela Bajaria is leaving, will be replaced by Peter Rice
Netflix has appointed former Disney executive Peter Rice as its new Chief Content Officer, replacing Bela Bajaria effective October 26. The leadership change occurs alongside company-wide layoffs and a strategic pivot toward live sports programming.
Why it matters
The leadership transition at a major streaming platform signals a shift in content strategy during a period of financial pressure and workforce reduction.
Netflix on Thursday announced Bela Bajaria will be replaced as the company's chief content officer by former Disney exec Peter Rice, effective Oct. 26.
Rice most recently oversaw Disney's cable channels, news programming and coverage of major sporting events.
"Peter is one of the most effective at-scale operators in the entertainment industry," co-CEO Ted Sarandos said in a statement. "I'm excited to welcome him to Netflix as Chief Content Officer as we continue to scale and deliver members more of the stories they love."
Before Rice was at Disney, he held roles at 21st Century Fox and Fox Searchlight Pictures. Netflix in its announcement called him "one of the entertainment industry's most respected creative executives." In his new role, Rice will oversee the company's global content organization, including scripted and unscripted series, film and live events.
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