Netflix shake-up: CCO behind Stranger Things and Bridgerton out, ex-Disney executive in
Netflix is shaking up its executive ranks, reportedly parting ways with the executive behind Stranger Things and Bridgerton and installing a former Disney executive.
In a rapid shuffle on the top floor at Netflix , former Disney executive Peter Rice will step in as Chief Content Officer on October 26, following the sudden exit of Bela Bajaria after nearly a decade. The change lands in the same week Netflix began cutting about 6% of its staff — roughly 1,000 employees — in the streamer’s largest layoff since 2022.
Why now
The switch comes as Netflix faces a tougher attention game at home. In July, YouTube accounted for 14.2% of connected‑TV viewing in the U.S., with Netflix at 7.8%. Company engagement grew just 2% in the first half of 2026, while Netflix’s share price has fallen more than 40% over the past year.
Bajaria joined Netflix in 2016 from Universal Television and, per Deadline, built the streamer’s unscripted division, managed an annual content budget near $20 billion, and helped push into live programming via WWE and NFL deals. Her tenure also delivered some of Netflix’s most-watched franchises:
- Squid Game
- Bridgerton
- Stranger Things
- Wednesday
- Beef
“After a phenomenal decade at Netflix, Bela is leaving the company,” Co‑CEO Ted Sarandos wrote in an internal email, adding it ’s “hard to overstate the impact Bela has had during her time here,” according to Deadline.
Who’s taking over
Rice arrives with a different toolkit. He ran Fox Searchlight, steering prestige films, then became chairman of Walt Disney Television, where his portfolio included:
- The Simpsons
- Abbott Elementary
- Shōgun
He left Disney in 2022 after being pushed out by then‑CEO Bob Chapek.
The layoffs
The cuts began Wednesday, October 14, when Sarandos and Co‑CEO Greg Peters told staff in a memo that Netflix would reduce its workforce by about 6%. Netflix had roughly 16,000 full‑time employees at the end of 2025. The memo said most reductions hit product, technology, legal, and HR, and noted the business remains on track to meet its full‑year forecast.
Several content leaders also exited in the shake‑up:
- Doug Belgrad — film vice president
- Carolina Garcia — TV executive
- James Oh — TV executive
Netflix is expected to report earnings around October 20.