Netflix has appointed former Disney executive Peter Rice as its chief content officer, replacing Bela Bajaria, who is leaving the streaming company after nearly a decade. The appointment, announced on Thursday, takes effect on 26 October and places Rice in charge of Netflix’s global content operations, including scripted and unscripted television, films and live events.
Rice most recently oversaw Disney’s cable channels, news programming and coverage of major live sporting events. Before joining Disney, he held senior roles at 21st Century Fox and Fox Searchlight Pictures. Netflix described him as one of the entertainment industry’s most respected creative executives.
Ted Sarandos, Netflix’s co-chief executive, welcomed the appointment, describing Rice as “one of the most effective at-scale operators in the entertainment industry”. He said he was looking forward to working with Rice as the company continued to expand and deliver content to subscribers.
Rice said Netflix had repeatedly demonstrated its willingness to support distinctive creative voices and new ideas. “I’m excited to work with the team to help bring even more great stories to members everywhere,” he said in a statement.
Bajaria, who most recently led Netflix’s global content team, has been instrumental in overseeing the company’s programming strategy. Her responsibilities included developing its approach to live sports and other events, with an emphasis on turning prominent games and tournaments into major viewing occasions for subscribers.
Sarandos thanked Bajaria for her contribution to the company, saying he was “incredibly grateful for everything she’s done to help Netflix entertain the world”.
The leadership change comes as Netflix faces organisational and financial pressures. On Wednesday, the company announced layoffs affecting approximately 6% of its workforce, or roughly 1,000 jobs. The reductions preceded the announcement of Rice’s appointment by one day.
Netflix shares have fallen more than 20% this year, although the stock remained relatively unchanged in extended trading on Thursday. The company is scheduled to report its next quarterly earnings on Tuesday.
Rice’s appointment brings experience in television programming, news and live sports to a role encompassing Netflix’s international content operations. His remit will cover the full range of the company’s programming, from scripted and unscripted series to films and live events, as the streaming service continues to develop its content offering for audiences worldwide.
