Netflix announced that Bela Bajaria, its chief content officer, is leaving after nearly 10 years and will be replaced by former Disney executive Peter Rice, effective Oct. 26. Rice most recently oversaw Disney's cable channels, news programming and major sports coverage, and will now lead Netflix's global content organization across scripted and unscripted series, film and live events. Co-CEO Ted Sarandos praised Rice as one of the most effective operators in the entertainment industry. The announcement came a day after Netflix cut roughly 6% of its workforce, about 1,000 jobs, and its shares are down more than 20% this year. The company will report its next quarterly earnings on Tuesday.
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