Activision Blizzard intends to fire their Chief Financial Officer

Devin Lawrence
January 3, 2019

The filing says it's unrelated to the company's finance reporting, but does not elaborate on what's the reasoning behind this decision. According to Reuters, in the next few days, we should expect to see an announcement that Neumann is being picked up by Netflix where he will become their new CFO, the same title he held at Activision Blizzard. Since October, the company's stock has dropped significantly, and now it is firing their Chief Financial Officer Spencer Neumann.

Netflix is reportedly naming former Activision Blizzard CFO Spencer Neumann to the same position. Mr. Neumann has been placed on a paid leave of absence from the Company pending an opportunity for him to demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified.

Activision Blizzard is one of the most successful standalone interactive entertainment companies. He replaces David Wells, who in August said he planned to step down after 14 years at the streaming media giant.

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Neumann did not immediately respond to Reuters request for comment over LinkedIn.

Neumann was the CFO at Activision Blizzard since May 2017 and before that was the CFO and executive vice-president of global guest experience at Disney's Walt Disney Parks and Resorts division.

Activision Blizzard chief corporate officer Dennis Durkin is taking over for Neumann as CFO in the interim. The reason for this termination hasn't been further elaborated, but it is "unrelated to the company's financial reporting or disclosure controls and procedures".

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