Netflix poaches new finance chief from Activision


Currently, Neumann has been placed on paid leave from Activision and has been afforded the opportunity to "demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified".

Activision Blizzard's tumultuous 2018 ended last night with a regulatory filing that announced the firing of their Cheif Financial Officer (CFO) Spencer Neumann.

Reports had been circling that Spencer Neumann was slated to leave Activision-Blizzard for Netflix (NASDAQ:NFLX) in early 2019.

The news comes shortly following Activision Blizzard revealed plans to terminate Neumann "for cause unrelated to the Company's financial reporting or disclosure controls and procedures", in a filing with the U.S. Securities and Exchange Commission.

Activision Blizzard has terminated Neumann "for violating his legal obligations to the Company".

Netflix didn't provide a start date for Neumann. In May 2017 when Neumann was appointed CFO Durkin was named Chief Corporate Officer and held that role until his return to CFO. Assuming Neumann does indeed end up at Netflix which seems all but confirmed, Durkin will then officially be promoted to the CFO role in a full capacity.

Earlier on Monday, Activision Blizzard said in a regulatory filing that it meant to fire Neumann for an unspecified reason. In the interim, former CFO Dennis Durkin will be acting CFO and will regain the position permanently if Neumann's firing stands. Before joining the company, he rose through the ranks at Disney, eventually becoming the CFO of Walt Disney Parks and Resorts.