Netflix reportedly poaches Activision Blizzard CFO

Dwayne Harmon
January 3, 2019

Earlier on Monday, Activision Blizzard said in a regulatory filing that it meant to fire Neumann for an unspecified reason.

"Neumann received almost $10M in compensation in the company's previous fiscal year", states a report at DVS Gaming.

Activision Blizzard is having a year of ups and downs.

According to Reuters, Neumann is expected to start at Netflix in early 2019, so an official announcement might be coming soon.

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The publisher intends to terminate the employment of its Chief Financial Officer Spencer Neumann.

Yahoo reports that Activision's CFO's firing is "unrelated to the Company's financial reporting or disclosure controls and procedures", but beyond that, no reason has been given. 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.

Neumann will be on leave pending an opportunity to demonstrate why he shouldn't be let go, the company said Monday in a regulatory filing. Netflix's former CFO, David Wells, announced last August that he was leaving the company after 14 years. Activision Blizzard, for its part, has not commented on Neumann's departure from the company beyond the statements included in its SEC filing. Until then, chief corporate officer Dennis Durkin will be taking over and if Neumann does leave then Durkin will be stepping in to officially take the role of CFO at Activision Blizzard. Meanwhile, Durkin joined Activision Blizzard as CFO in 2012 and served in that role until around Neumann's hiring in 2017.

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