Netflix removed chief content officer Bela Bajaria, replacing her with veteran Disney and Fox executive Peter Rice, who assumes the role on October 26.
The leadership change follows a record slowdown in viewership, a 23% fall in stock value since early 2026, and layoffs affecting about 1,000 workers or 6% of staff.
Peter Rice will oversee scripted and unscripted series, films, and live events, with the streamer hoping his background will help improve relations with Hollywood talent.