Netflix Inc. (NASDAQ: NFLX) has named Peter Rice its next chief content officer, replacing Bela Bajaria after nearly a decade at the company. Rice takes over on October 26, the streaming service announced on October 15.
Rice will lead Netflix’s global content organization, overseeing films, scripted and unscripted series, live events and other programming across all regions. He previously chaired Walt Disney Television and Disney’s general entertainment division, following senior roles at 21st Century Fox and Fox Searchlight Pictures.
Co-CEO Ted Sarandos credited Bajaria with expanding Netflix’s unscripted programming and helping launch live events and sports. He highlighted Rice’s experience managing large entertainment operations and his relationships with creative talent. Netflix’s announcement did not disclose a reason for Bajaria’s departure or Rice’s compensation.
The leadership change comes a day after Netflix announced plans to eliminate roughly 1,000 jobs, or 6% of its workforce, as we previously reported. Those reductions largely affect product, technology, legal and human resources. Management told employees the business remained strong and that the full-year financial forecast was on track.
Netflix has scheduled third-quarter results and its business outlook for October 20 at approximately 1:01 p.m. Pacific time, followed by a management interview at 1:45 p.m. The release will provide the next financial checkpoint. Netflix has not disclosed financial targets tied to Rice’s appointment.
