Netflix announced today that Peter Rice will become its Chief Content Officer, effective October 26. He succeeds Bela Bajaria, who is leaving the company after nearly 10 years.
The announcement follows Netflix’s admission Thursday that it will eliminate about 6% of its workforce, or roughly 1,000 jobs.
“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” said Ted Sarandos, co-CEO of Netflix. “She led enormous changes at Netflix. She helped broaden our content offering to include the large-scale expansion of unscripted programming and the launches of live events and sports, in addition to crafting and running a world-class, global slate of films and series. I’m incredibly grateful for everything she’s done to help Netflix entertain the world.”
As Chief Content Officer, Rice will lead Netflix’s global content organization, overseeing scripted and unscripted series, film, live events and more across all regions.
“Peter is one of the most effective at-scale operators in the entertainment industry. His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad,” said Sarandos. “He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives. I’m excited to welcome him to Netflix as Chief Content Officer as we continue to scale and deliver members more of the stories they love.”
“Netflix has fundamentally changed the way stories are made, shared and experienced around the world,” said Rice. “They’ve shown again and again that they’re willing to take chances on distinctive voices and fresh ideas, and I’m excited to work with the team to help bring even more great stories to members everywhere. I’m grateful to Bela for building such a remarkable global team, and I look forward to building on everything she and the team have created.”
Netflix shares are down more than 20% this year.
By CEO NA Editorial Staff
