Netflix appoints Peter Rice as chief content officer, replaces Bela Bajaria amid 1,000 job cuts

Netflix has appointed veteran entertainment executive Peter Rice as its chief content officer, effective October 26, replacing Bela Bajaria, who is leaving the streaming platform after nearly a decade. The leadership change comes as the company undertakes a major workforce reduction and faces intensifying competition for viewer attention.

Rice will lead Netflix’s global content organisation, overseeing scripted and unscripted series, films, live events and other programming across markets. His appointment places an executive with extensive experience across television, film and entertainment operations at the helm of the company’s content strategy as it seeks to sustain engagement among its global subscriber base.

Rice brings Disney, Fox experience to Netflix

Rice was most recently chairman of Walt Disney Television and chairman of general entertainment at The Walt Disney Company. His responsibilities covered ABC, Fox Broadcasting, Fox Sports, ABC News, FX Networks, Hulu, National Geographic, Disney Channel and Twentieth Century Fox Television, among other businesses.

The divisions under his leadership produced more than 300 shows and 4,000 hours of television annually. Their programmes included The Simpsons, Modern Family, The Bear, Abbott Elementary, Shogun and Only Murders in the Building. Disney secured 147 Primetime Emmy nominations in 2022 and 146 in 2021.

Before joining Disney, Rice served as president of 21st Century Fox and chief executive of Fox Networks Group. He previously headed Fox Searchlight Pictures, whose releases included Slumdog Millionaire, Juno, Little Miss Sunshine and Sideways.

Netflix co-chief executive Ted Sarandos described Rice as an experienced operator with strong industry relationships and a broad understanding of television and film. Rice said he would build on the global content operation established by Bajaria and her team.

Bajaria exits after nearly a decade

Sarandos credited Bajaria with expanding Netflix’s unscripted programming and launching live events and sports, alongside its global slate of films and series. Her departure marks a leadership transition at the top of the content division she most recently led.

Rice’s mandate spans multiple programming categories and markets, placing him at the centre of Netflix’s efforts to develop content that attracts and retains audiences.

The announcement comes amid mass layoffs at Netflix. On October 14, 2026, the company announced plans to cut approximately 1,000 jobs, or around 6% of its workforce, in its biggest round of layoffs since 2022. The reductions are expected to affect product, technology, legal and human resources teams, among other functions.