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

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

Activision Blizzard has placed the company's chief financial officer, Spencer Neumann, on a paid leave of absence after informing him that it intends to terminate him from his position.

Usually, Call of Duty and World of Warcraft continue to carry the torch for Activision Blizzard's profit margin, however CNBC reported a fall from 352 million monthly active users down to 345 million in the company's third quarter.

Neumann had joined Activision Blizzard as CFO in May 2017. Activision shares are down 26 per cent in 2018, and could decline even further.

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Activision in its regulatory filing said that it meant to terminate Neumann "for cause unrelated to the company's financial reporting or disclosure controls and procedures". Netflix's former CFO, David Wells, announced last August that he was leaving the company after 14 years.

"Netflix is a singular brand, and I'm excited and honored for the opportunity to work with the Netflix team and all of our stakeholders to build on the company's exceptional track record of success and innovation", said Spencer Neumann.

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

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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.

Dennis Durkin, Activision's chief corporate officer, is taking over from Neumann in the interim, although he will assume the role of CFO should Neumann depart the video game giant.

If Neumann ultimately ceases to be the CFO, then Durkin will take over the role, the company said.

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