In a stunning and unexpected leadership shake-up, Bela Bajaria is exiting Netflix after nearly a decade at the streaming giant, leaving her position as chief content officer at a time when the company is already cutting jobs across its organisation. The departure is particularly striking as Netflix’s film division has also lost vice president Doug Belgrad amid the layoffs. However, Bajaria’s exit carries a different significance: she was one of the company’s most senior content executives, overseeing its global film and television strategy. Her departure marks a major change at the top of Netflix’s content operation, with former Disney and Fox executive Peter Rice set to succeed her.
Netflix has appointed former Disney and Fox executive Peter Rice as its new chief content officer, the leadership change comes as Netflix faces pressure to strengthen audience engagement, deliver more successful original programming and reassess its business priorities amid a wider workforce reduction.
Rice will assume the role on October 26 and lead Netflix’s global content organisation, overseeing scripted and unscripted series, films, live events and other programming across all regions. His appointment places an experienced film and television executive at the centre of Netflix’s content strategy as the company seeks to maintain its position in an increasingly competitive entertainment market.
Bajaria’s departure comes a day after Netflix announced plans to cut approximately 1,000 jobs, representing around 6% of its global workforce. The company has also faced scrutiny over slowing audience engagement and a decline in its share price. Although Netflix has not identified these challenges as the direct reason for Bajaria’s exit, the timing places the executive transition within a period of significant change for the streaming giant.
Bajaria joined Netflix in 2016 after serving as president of Universal Television at NBCUniversal. She initially helped the company expand its unscripted programming, licensing and studio co-productions before becoming head of global television in 2020. In January 2023, she was appointed chief content officer, taking responsibility for Netflix’s global film and television slate.
During her tenure, Netflix continued to expand its programming across languages, genres and international markets. Its slate included popular series such as Bridgerton, Squid Game, Stranger Things, Wednesday, Beef and Adolescence, alongside films including KPop Demon Hunters and Frankenstein. The company also expanded its live programming through events and sports partnerships, including deals involving the NFL and WWE.
Netflix co-CEO Ted Sarandos acknowledged Bajaria’s contribution in a statement announcing the change. He credited her with broadening the company’s content offering, expanding unscripted programming and introducing live events and sports, while overseeing a global slate of films and series. Sarandos thanked her for a decade of leadership and for helping the company reach audiences around the world.
Rice brings a different combination of film production, television management and corporate leadership experience to the role. He spent much of his career within the Fox organisation, eventually serving as president of 21st Century Fox and chief executive of Fox Networks Group. He also led Fox Searchlight Pictures, the studio associated with acclaimed films including Slumdog Millionaire, Juno, Little Miss Sunshine and Sideways.
Following Disney’s acquisition of major Fox assets, Rice became chairman of Walt Disney Television and chairman of general entertainment for The Walt Disney Company. His responsibilities encompassed a broad portfolio of television networks and production operations, including ABC, FX Networks, Hulu, National Geographic and Disney’s television studios. His tenure included programming across drama, comedy, entertainment and news, giving him experience managing content operations at considerable scale.
Rice left Disney in 2022 after then-chief executive Bob Chapek dismissed him. Since then, he has worked as a film producer, with credits reported across projects including Saturday Night, Warfare and 28 Years Later. His appointment at Netflix brings him back into a senior executive position after several years outside the traditional studio leadership structure.
The appointment also raises questions about the direction of Netflix’s film business. Rice’s background at Fox Searchlight gives him substantial experience in film development and relationships with filmmakers. However, Netflix has not announced any immediate changes to its film commissioning process, release strategy or leadership structure under his incoming tenure.
The company has been adjusting its approach to original films while exploring theatrical opportunities for selected productions. At the same time, Netflix faces questions about how effectively its large content investment translates into sustained viewing and cultural impact. Rice will inherit an organisation that operates across a broad range of programming, from international television and unscripted entertainment to feature films and live events.
Audience engagement has become a particularly important consideration. According to reporting by Puck, Netflix’s engagement increased by 2% in the first half of 2026. The company has also faced increased competition for viewing time from platforms such as YouTube and other digital services. These pressures have prompted broader questions about how Netflix can continue to grow its audience and maintain the impact of its original programming.
Netflix’s unsuccessful pursuit of Warner Bros. Discovery earlier this year added another dimension to the company’s strategic challenges. Netflix withdrew from the bidding process after determining that raising its offer was no longer financially attractive, leaving Paramount Skydance as the successful bidder. The outcome meant Netflix would not gain the additional studio and streaming assets it had sought through the transaction. However, there is no confirmed direct link between the failed acquisition and Bajaria’s departure.
Rice’s immediate task will be to take charge of Netflix’s worldwide content operation and work with its creative and business teams. His experience across film and television could prove relevant as the company evaluates its programming priorities, talent relationships and approach to building successful titles across markets. Any significant changes to those priorities will become clearer after he takes up the role.
Bajaria’s departure marks the end of a decade at Netflix during which the company broadened its programming and strengthened its international reach. Rice now inherits that global operation at a time when Netflix is balancing its established strengths against pressure to generate fresh hits and sustain audience growth. His appointment signals a change in leadership, while the direction of the company’s content strategy under him remains to be seen.
