In a major shake-up at Netflix Inc., Bela Bajaria has been put in charge of global television and Cindy Holland, a key architect of the streaming giant’s original content strategy, is leaving, the company said Tuesday.

In her new role, Ms. Bajaria will oversee all original series for Netflix around the globe. Ms. Bajaria, who joined Netflix in 2016, had previously overseen unscripted programming and international content, the latter of which has become a priority for Netflix over the past several years.

The restructuring of the unit essentially leap-frogged Ms. Bajaria over Ms. Holland who has been at Netflix for nearly 20 years and now finds herself without a role. Ms. Holland was instrumental in developing and greenlighting much of Netflix’s original content including shows such as “House of Cards,” “Orange is the New Black” and “Stranger Things.”

With the bulk of subscriber growth coming from outside of the U.S., local-language content is increasingly important for Netflix. It also is starting to boost the streamer’s awards tallies. This year, Netflix landed multiple Emmy nominations for Unorthodox.

“It has been a real joy to lead the original series team for the last eight years,” Holland said. “From transitioning the company out of DVDs into streaming to launching our first slate of original series and documentaries, I’ve loved every moment. I am proud of the impact and the diversity of the stories we’ve brought to audiences around the world, and to have worked with some of the most inspiring creators and executives in our business.”

The decision to jettison Ms. Holland, whose record was admired throughout the entertainment industry, stunned many in Hollywood. “These kinds of changes are never easy, and I am enormously grateful to Cindy Holland for everything she has done over the last 18 years at Netflix,” Mr. Sarandos said. Ms. Holland couldn’t be reached for comment. In a statement she said, she “loved every moment” at the company.

Todd Horwitz Chief Strategist
Stop being a prophet and make profits

On Saturday September 5th we presented our Hedging Model. Here is the recording from the event

Hedging Presentation Recording