Netflix replaced Chief Content Officer Bela Bajaria with former Disney executive Peter Rice on October 26, 2026. The abrupt leadership shake-up follows major company layoffs, slowing viewership growth, and a sharp drop in Emmy wins, signaling an aggressive push to right the streaming giant’s business model.
Hollywood is reeling from the sudden exit of Bela Bajaria, who spent nearly a decade at Netflix and served as its chief content officer since 2023. News of her departure leaked before she could address most of her internal teams, arriving hard on the heels of a massive workforce reduction that eliminated approximately 6 percent of staff, or roughly 1,000 jobs, according to CNBC. The sweeping cuts marked the first major layoffs at the streaming company in four years.
Peter Rice Steps In as Chief Content Officer
To steer the content organization through its next phase, Netflix tapped veteran television and film executive Peter Rice to take over the role effective October 26, 2026. Rice brings a deep resume running operations at major studios, having previously served as chairman of general entertainment at Walt Disney Co. and president of 21st Century Fox.
Before his tenure at Disney, Rice held prominent positions at 21st Century Fox and Fox Searchlight Pictures. Most recently, he led ceremonies and content for the Los Angeles 2028 Olympic Games, a responsibility that is concluding as he shifts his focus to his new duties at the streaming service. His career also includes overseeing Disney’s cable channels, news programming, and coverage of major sporting events before he was ousted by then-Chief Executive Officer Bob Chapek in 2022.
Netflix $NFLX Chief Content Officer Bela Bajaria is reportedly leaving the company, with former Disney $DIS executive Peter Rice set to replace her, according to TheWrap.Bajaria joined Netflix in 2016 and became content chief in 2023, overseeing hits including Squid Game,… pic.twitter.com/5amw8wJz5c
Ted Sarandos, co-CEO, stated that Peter is one of the most effective at-scale operators in the entertainment industry and expressed excitement about welcoming him to Netflix as Chief Content Officer, emphasizing the company’s goal to continue scaling and delivering more stories that members love.
In his new position, Rice will oversee global scripted and unscripted series, feature films, and live events across all regions.
Behind the Shake-Up: Slowing Growth, Layoffs, and Emmy Slumps
While Bajaria leaves behind a legacy of expanding Netflix into unscripted programming, video podcasts, and live events—including streaming NFL games and WWE matches—her departure highlights the mounting pressure from investors.
Industry analysts point to broader pressures on the streaming leader’s business model. Ross Benes, senior analyst at Emarketer, told Latimes.
Adding to the tension, Netflix won just 16 Primetime Emmy Awards this year—its worst showing since 2016 and a steep drop from 30 wins in 2025, according to Variety. That performance stands in stark contrast to earlier years when the platform set records for creative accolades.
Leadership Shifts Across the Streaming Giant
The management shuffle extends beyond Bajaria’s exit.
🚨 BREAKING: Major shakeup at the top of Netflix.Bela Bajaria is departing after nearly 10 years with the company. Former Disney and Fox executive Peter Rice will take over as Chief Content Officer starting October 26th.The news comes just a day after Netflix laid off 1,000… pic.twitter.com/5ii0VEv6bx
Netflix has fired their chief content officer Bela Bajaria. She will be replaced by Peter Rice, the former entertainment chairman at Disney.Netflix's film chief Dan Lin is also expected to be fired, subject to final decision by Peter Rice.(Source: https://t.co/3ERAU5P27L) pic.twitter.com/C65bckdD4c
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