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Netflix Names Peter Rice Chief Content Officer, Shares Rise

By Drooid · Oct 16, 2026, 11:23 PM UTC · How we work

Summary

Netflix Hires Peter Rice

Netflix appoints former Disney executive Peter Rice as chief content officer, succeeding Bela Bajaria.
Rice assumes global content leadership on October 26, 2026.
The change follows Netflix’s layoff of roughly 1,000 employees, about 6 % of its workforce.
Netflix’s stock has fallen about 40 % over the past 12 months amid slowing growth.
Rice brings three decades of TV and film experience from 21st Century Fox and Disney.

Summary

Netflix Shares Climb

Netflix shares rose about 1.5% in after-hours trading after announcing Rice’s appointment.
Analyst Alicia Reese said the hire could position Netflix for future acquisitions such as NBCUniversal.
Investors view the leadership change as adding execution risk while the stock has fallen 25% year-to-date.
Benchmark funds rose 0.4% as Netflix fell, showing sector divergence after the leadership news.

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Netflix Hires Peter Rice

Netflix appoints former Disney executive Peter Rice as chief content officer, succeeding Bela Bajaria.
Rice assumes global content leadership on October 26, 2026.
The change follows Netflix’s layoff of roughly 1,000 employees, about 6 % of its workforce.
Netflix’s stock has fallen about 40 % over the past 12 months amid slowing growth.
Rice brings three decades of TV and film experience from 21st Century Fox and Disney.

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