Netflix replacing its Chief Content Officer (CCO) Bela Bajaria, Peter Rice will be new CCO.

Netflix has announced that Chief Content Officer Bela Bajaria is stepping down after the 10 years of span with the company. Former Disney and Fox Executive Peter Rice will the new Chief Content Officer of Netflix.

News Source: https://variety.com/

On Thursday, Netflix’s shocking announcement of firing its Chief Content Officer Bela Bajaria who has been with the company for a decade and appointed as Chief Content Officer in 2023. She will be replaced by the former Disney and Fox Executive Peter Rice. The news came to light, one day after Netflix implemented layoffs throughout the company, which resulted in the loss of about 1,000 jobs, which is 6% of its staff.

Ted Sarandos, co-CEO of Netflix said “I want to thank Bela for a decade of dedication, innovation, creativity and leadership, she led enormous changes at Netflix. She helped broaden our content offering to include the large-scale expansion of unscripted programming and the launches of live events and sports, in addition to crafting and running a world-class, global slate of films and series. I’m incredibly grateful for everything she’s done to help Netflix entertain the world.”

And on the appointment of Peter Rice he said “Peter is one of the most effective at-scale operators in the entertainment industry. His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad,” said Sarandos. “He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives. 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.”

The layoffs earlier this week were Netflix's first in four years, although the company's corporate culture has historically supported individual teams making adjustments as needed rather than layoffs. Reed Hastings, the founder of Netflix, notably fired his co-founder Marc Randolph and urged other top executives to make adjustments if they believed they would improve the company's performance.

FAQs:

Q: Was Bela Bajaria fired or did she resign?

A: She was abruptly fired. Reports indicate she was executing the company's mass layoffs earlier in the week without knowing her own position was compromised, only finding out she was out late Wednesday.

Q: Why did Netflix choose Peter Rice?

A: Rice is considered one of Hollywood's most powerful at-scale operators, with deep experience running major film and TV operations at Walt Disney Co. and 21st Century Fox. Netflix wants his expertise to revive audience engagement and reverse the 40% stock slide.

Q: How many employees were laid off in Netflix?

A: Netflix implemented layoffs throughout the company, which resulted in the loss of about 1,000 jobs, which is 6% of its staff.

Q: Who else was let go in the content division in Netflix?

A: Along with Bajaria, other notable high-level casualties included Film VP Doug Belgrad and Film Director Sheroum Kim, signaling a massive restructuring of Netflix's film and TV strategy.

Q: When does Peter Rice officially start?

A: Peter Rice will officially assume the role of Chief Content Officer on Monday, October 26, 2026.