Netflix Announces Activision Blizzard Exec Spencer Neumann as CFO

Activision Blizzard intends to fire their Chief Financial Officer By Keshav Bhat

Activision Blizzard intends to fire their Chief Financial Officer By Keshav Bhat

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

Today Activision Blizzard (NASDAQ:ATVI) announced they have named Dennis Durkin to the position of CFO again after firing Spencer Neumann. The changeover may not happen immediately, though: Activision Blizzard has stated that Neumann remains on paid leave at present, and it's unlikely his contract will permit him to take on the Netflix role until he has entirely separated from his former employer.

Netflix appears to be going all-in on the idea of interactive media, reportedly poaching former Activision Blizzard chief financial officer Spencer Neumann to take over the same role at the streaming video company.

CNBC reports the share price for Activision Blizzard dropped by 1 percent after the news became public of the company's plans. This period also saw the launch of many new titles including Destiny, Overwatch and Hearthstone which all catered to different audiences to commercial success.

The SEC filing states that "on December 31, 2018, Activision Blizzard, Inc".

Chief Corporate Officer Dennis Durkin will assume the duties of CFO effective January 1 until the issue is resolved, Activision said in a regulatory filing. Neumann has been placed on a paid leave of absence from the company, Activision Blizzard said, adding that Neumann will get an opportunity to demonstrate why termination of his employment is not justified. Durkin has been with the company since 2012 - he was originally the Chief Financial Officer, then became the Chief Operating Officer of the company.

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