Netflix Names Peter Rice Content Chief After Ousting Bela Bajaria Amid Layoffs

Key Facts

1Netflix has removed Chief Content Officer Bela Bajaria and appointed veteran executive Peter Rice as her replacement.

2Peter Rice, a former senior executive at Walt Disney and 21st Century Fox, will take over on October 26.

3The leadership change follows the announcement of approximately 1,000 job cuts, representing 6% of the workforce.

Netflix has removed Chief Content Officer Bela Bajaria and appointed veteran executive Peter Rice as her replacement, Bloomberg reported. Rice, a former senior executive at Walt Disney and 21st Century Fox, will officially take over on October 26, 2026, to oversee scripted series, films, and live events worldwide. This leadership transition follows the company's announcement of approximately 1,000 job cuts, representing 6% of its global workforce.

The strategic shift comes as the streaming giant addresses slowing viewership growth, with NFLX shares declining 25% year-to-date. NFLX closed at $70.53 on October 16, 2026, having traded between a day high of $71.9 and a low of $69.82. According to ZeroHedge, the appointment of Rice is intended to counter declining audience engagement and slowing revenue growth despite the platform surpassing 325 million global subscribers.