Activision Intends to Fire CFO Spencer Neumann, Although He's Already Heading to Netflix [UPDATE]
Activision is preparing to fire its current CFO with plans to promote the current company CCO once the departure has been made official.
It looks like there’s going to be a rather large executive shakeup over at Activision to start the 2019 calendar year.
In a recent securities filing from Activision Blizzard Inc., it was revealed that the company’s current Chief Financial Officer (CFO) Spencer Neumann is pending termination from his role for matters that aren’t related to financial performance. 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.” However, it seems like he won’t be taking that opportunity as Neumann has seemingly already taken another job.
According to multiple reports, Neumann will indeed end up departing Activision and has in fact already accepted the same role of CFO over at Netflix. The video streaming company is reportedly said to announce the move within the coming days.
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. 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.
UPDATE: Neumann’s move from Activision to Netflix has now been made official. Netflix CEO Reed Hastings gave the following statement today Neumann’s arrival while also bidding former CFO David Wells a fond farewell:
“Spencer is a stellar entertainment executive and we’re thrilled that he will help us provide amazing stories to people all over the world. 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.”