Netflix Names Peter Rice Chief Content Officer to Replace Bela Bajaria
Former Disney and Fox executive Peter Rice will take charge of Netflix's global content strategy on Oct. 26 following Bela Bajaria's exit after nearly a decade.
At a glance
- Peter Rice will take over as Netflix's chief content officer on Oct. 26, succeeding Bela Bajaria.
- Bajaria is leaving Netflix after nearly a decade, having recently focused on the platform's live sports strategy.
- The executive change follows layoffs that cut roughly 1,000 jobs, or 6% of the company's workforce.
Netflix announced on Thursday that veteran entertainment executive Peter Rice will take over as the streaming platform's new chief content officer, replacing Bela Bajaria effective Oct. 26.
Rice, who previously served in senior executive roles at Disney, will manage the company's international creative operations. His portfolio is set to cover scripted television, unscripted programming, full-length feature films, and live broadcasts. During his time at Disney, Rice was responsible for managing cable networks, news operations, and major live sports presentations, having previously built his career with senior leadership positions at 21st Century Fox and Fox Searchlight Pictures.
Co-Chief Executive Ted Sarandos characterized Rice as one of the most effective large-scale leaders in entertainment, stating that the company looks forward to having him guide content creation as Netflix broadens its global reach. Rice remarked that Netflix has repeatedly demonstrated a commitment to supporting distinct perspectives and innovative concepts, adding that he looks forward to working with the creative team to reach viewers worldwide.
Bajaria exits the streaming giant after nearly a decade of service. In her most recent position overseeing international content, she played a pivotal role in guiding Netflix's push into live sports, aiming to turn high-profile matches and athletic competitions into must-watch viewing events. Sarandos thanked Bajaria for her extensive work in helping entertain the platform's global audience.
The high-profile executive change comes during a period of transition for Netflix. Just one day before the announcement, the company initiated broad staff reductions that eliminated approximately 1,000 roles, representing about 6% of its global workforce. The company's shares have dropped by more than 20% so far this year, though stock prices remained relatively steady in extended trading on Thursday. Netflix is scheduled to disclose its next quarterly financial results on Tuesday.
Source: CNBC Top News.
Questions and answers
- Who is the new chief content officer at Netflix?
- Former Disney and Fox executive Peter Rice has been named chief content officer, taking over the role on Oct. 26.
- What will Peter Rice oversee at Netflix?
- Rice will manage Netflix's global content slate, including scripted series, unscripted programming, films, and live broadcasts.
- Why is Bela Bajaria leaving Netflix?
- Netflix announced Bajaria's departure after nearly 10 years at the company, coming one day after the platform cut about 1,000 jobs.
