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Netflix has hired a new content chief after a stock slump and struggles to grow its viewership.
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.
She'll be replaced on October 26 by Peter Rice, a former Fox and Disney executive, 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.
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James Faris is a media correspondent in New York City.He covers the business of media & entertainment, specifically the streaming, TV, and AI strategies of Hollywood giants like Disney, Skydance (Paramount-WBD), and Netflix. He previously wrote about the stock market, the economy, and real estate.James joined Business Insider after graduating magna cum laude from James Madison University.Email James at [email protected] and follow him on LinkedIn.
