As part of a major management shakeup, Bela Bajaria is leaving Netflix after 10 years at the streamer, where he was most recently chief content officer.
She will be replaced by former Disney and Fox executive Peter Rice, as first reported by Puck. As chief content officer, Rice will lead Netflix’s global content organization, overseeing scripted and unscripted series, films, live events and more across all regions.
Bajaria’s departure comes amid significant downsizing at Netflix. Around 1,000 employees (6% of the company) were laid off this week, marking the streamer’s largest cut to date. Netflix vice president of film Doug Belgrade and director Sheroum Kim were also pushed aside as part of the restructuring.
“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” Sarandos, Netflix co-CEO, said in a statement. “She led enormous changes at Netflix. She helped expand our content offerings to include the large-scale expansion of unscripted programming and the launch of live events and sports, in addition to creating and curating a global selection of world-class films and series. I am incredibly grateful for everything she has done to help Netflix entertain the world.”
Bajaria joined Netflix in 2016 after being fired from NBCUniversal, where she had served as president of Universal Television. In this role, she produced shows that aired on Netflix, including “Unbreakable Kimmy Schmidt” and “Master of None.” Sarandos first brought on Bajaria to help Netflix launch an unscripted division, as well as studio licensing and co-productions. Bajaria was then elevated to global head in 2020 when Cindy Holland left the company and was named chief content officer in January 2023.
Under his leadership, Bajaria oversaw popular television series such as “Bridgerton,” “Squid Game,” “Adolescence,” “Beef,” “Stranger Things” and “Wednesday,” as well as films such as “KPop Demon Hunters” and “Frankenstein.” She also pushed Netflix to get into more sports and live events like “The Roast of Tom Brady” and strike deals with the NFL and WWE.
But in recent months, as Netflix’s growth has slowed, so has the aura around its original programming. The streamer only won 16 Primetime Emmy Awards this year, down from 30 in 2025 and quite a long way from 2021, when it tied the record for the most Emmys won by an outlet in a single year, with 44. In total, 2026 was Netflix’s lowest Primetime Emmy haul since 2016.
“I know this is a big change in a year that has already had its share,” Sarandos wrote in a memo to staff. “But I also see an opportunity to take our roster to the next level, particularly at UCAN (US and Canada) where we have an outsized impact by creating big, buzzy hits that our members love and spark conversations around the world.
Rice’s ouster at Disney in 2022, by then-CEO Bob Chapek, was a huge shock to the industry given his stature within the company. A renowned executive with strong talent relationships, Rice was most recently chairman of Walt Disney Television and chairman of general entertainment for the Walt Disney Company. There, he oversaw ABC, FOX Broadcasting, Fox Sports, ABC News, ABC Studios, Disney Channel, Freeform, FX Networks, Hulu, National Geographic, Onyx Collective, Disney Television and Twentieth Century Fox Television, with more than 300 shows and 4,000 hours of television per year. Programs during his tenure included “The Simpsons,” “American Idol,” “Modern Family,” “This Is Us,” “The Bear,” “Abbott Elementary,” “Shogun” and “Only Murders in the Building,” as well as ABC News programming and sporting events such as the Super Bowl, NBA Finals and FIFA World Cup Finals.
Since being fired from Disney, Rice has worked as a producer on films including Jason Reitman’s “Saturday Night,” “28 Years Later” and “28 Years Later: The Bone Temple” at Sony, as well as Chris Rock’s “Warfare” and “Misty Green” at A24. He currently produces Alex Garland’s “Elden Ring” and Sonoya Mizuno’s “Stages,” as well as the LA28 Olympic and Paralympic Opening and Closing Ceremonies.
Earlier in his career, Rice served as chairman of 21st Century Fox and CEO of Fox Networks Group, and as Fox’s top executive on the board of Hulu. He also worked at Fox Searchlight Pictures and worked on independent films like “Slumdog Millionaire,” “Juno,” “Little Miss Sunshine,” and “Sideways.”
“Peter is one of the entertainment industry’s most effective large-scale operators. His business acumen is keen, his talent relationships are exceptionally strong, and his television and film experience is deep and broad,” Sarandos said. “He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives. I’m thrilled to welcome him to Netflix as Chief Content Officer as we continue to evolve and bring members more of the stories they love.”
Rice added: “Netflix has fundamentally changed the way stories are created, shared and experienced around the world. They have shown time and time again that they are willing to take risks with distinctive voices and fresh ideas, and I’m excited to work with the team to help bring even more great stories to members around the world.”
Mike Schneider contributed to this report.
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