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Netflix has hired a new content chief to oversee its TV shows and movies after a stock slump and struggles to grow engagement.
Bela Bajaria, who’s overseen Netflix’s movies and shows since 2023, is leaving the company after almost a decade, the company announced on Thursday.
Peter Rice, a former Fox and Disney executive, will take Bajaria’s place on October 26, Netflix said. Rice was the head of Disney’s TV arm, where he oversaw Hulu and networks like ABC, Disney Channel, and FX.
The news arrived the day after the streaming giant laid off about 1,000 employees on Wednesday, its biggest round of layoffs in four years.
Bajaria “led enormous changes at Netflix,” co-CEO Ted Sarandos said in a statement, crediting her for helping the streamer broaden its content mix to live events and sports.
This is a developing story and will be updated.
