Fired Activision Blizzard CFO picked up by Netflix as chief financial officer

Fired Activision Blizzard CFO picked up by Netflix as chief financial officer

Neumann might be out, but another big-name company has picked him up: Netflix. On Wednesday, Activision Blizzard said Neumann was "terminated for cause for violating his legal obligations to the company", which suggests he may have breached his employment agreement with the company. Netflix is expected to announce the news in the next few days.

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

Activision Blizzard has had a bit of a turbulent year, owing to a steady to decline in that all-important monthly active user (MAU) count, with weak growth across many of its major properties.

Earlier on Monday, Activision Blizzard said in a regulatory filing that it meant to fire Neumann for an unspecified reason. "I also want to again say thank you to David Wells, on behalf of the company and our shareholders, for his invaluable contributions at Netflix over the past 14 years".

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Mr Neumann did not immediately respond to requests to comment.

Neumann has served in a variety of finance roles including at Walt Disney Co.

As for what's happening over at Activision in the interim, the company's Chief Corporate Officer (CCO) Dennis Durkin has taken over the tasks of the CFO.

The SEC filing doesn't instantly boot Neumann from the company "for cause unrelated to the Company's financial reporting or disclosure controls and procedures". If Neumann doesn't regain his role as CFO after the paid leave, then Durkin will take over permanently.

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