Activision Blizzard’s CFO Might Get Fired
Update (1/3/2019): The former Activision Blizzard CFO has been officially announced as Netflix’s new CFO.
Original Story:
Activision Blizzard declared on Monday in a securities filing that it planned to fire its Chief Financial Officer, Spencer Neumann, and said that it wanted to fire him “for cause unrelated to the company’s financial reporting or disclosure controls and procedures.”
Neumann was also reportedly put on paid leave and will have a chance to explain to the company why his planned firing is unjustified.
Notably, Reuters reported later that day that Neumann was recently hired by Netflix and will begin his job at the company as its new CFO “in early 2019”. The Wall Street Journal also reported the same news on Monday.
According to Neumann’s Activision Blizzard biography on its official website, he was its CFO since May 2017 and was a Disney executive for several years beforehand.
Earlier this year, it was reported that Activision Blizzard managed to make over $7 billion in revenue in 2017.
What do you think of this news? What are your thoughts on Netflix’s reported business decision to hire Neumann? Does this seem like the right decision or should Netflix have hired someone else? Let us know your thoughts and opinions in the comments section below the article.