Activision Intends to Fire its Chief Financial Officer

Activision Blizzard intends to fire their Chief Financial Officer

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.

Michael Pachter, a video game and electronics business analyst for Wedbush Securities, took to Twitter this morning to speculate the potential causes for Neumann's termination.

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

The publisher intends to terminate the employment of its Chief Financial Officer Spencer Neumann. While Neumann prepares his case, chief corporate officer and former chief financial officer Dennis Durkin will be assuming the role in his absence.

The company said he had been placed on paid leave "pending an opportunity for him to demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified". He replaces David Wells, who in August said he planned to step down after 14 years at the streaming media giant.

According to a report on Reuters however, Neumann is now set to join Netflix at some point early this year, with an official announcement expected soon. Previously, he had been CFO and EVP of global guest experience at Disney's Walt Disney Parks and Resorts division since 2012.

The source said Netflix, which is making more of its own films and series, would like its next CFO to be based in Los Angeles with a focus on production finance.

Today Netflix announced a new Chief Financial Officer (CFO).

The news saw Activision's shares fall by almost 1 percent in after-hours trading.

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