Bela Bajaria, Netflix’s chief content officer since 2023, is leaving the company immediately, Ted Sarandos, the company’s co-chief executive, told employees in a memo on Thursday afternoon.
Peter Rice, a former Fox and Disney executive, will take over as chief content officer next week, Mr. Sarandos said.
The abrupt and major leadership change at Netflix comes as the streaming giant has been confronting stalling engagement figures and slowing growth. A day earlier, Netflix laid off roughly 1,000 people, its biggest round of job cuts since 2022.
“It’s been an eventful series of days here, and I realize we’ve asked you to absorb a lot of news and a lot of information,” Mr. Sarandos told staff. “But we all know change is what we do at Netflix.”
This is a developing story. Check back for updates.
