Activision Blizzard terminates its CFO
Recently, Activision Blizzard have terminated the contract of their CFO Spencer Neumann. In fact the former Cheif Financial Officer was notified on December 31st as the new year rolled in.
Accordingly, the company’s statement to the US Securities and Exchange Commission Filing on the decision was “for cause unrelated to the Company’s financial reporting or disclosure controls and procedures.”
Additionally, Neumann in the meantime is on paid leave as a way to “demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified.”
On top of that, the company’s Chief Corporate Officer Dennis Durkin will take over the former in his role. Not to mention, according to Reuters Neumann is planning to head to Netflix to be their new CFO. Interestingly, their CFO David Wells announced his departure last August after 14 years of working there.
Finally, according to Reuters Neumann is supposedly going to start working there sometime early this year. Yet, Netflix needed someone based in the Los Angeles area in which Neumann fits the bill. Yet, this situation seems odd from a glance as to what happened to lead to Spencer having his contract terminated.
Comment below on what you think of the situation. Also if you liked this article why not share it on social media. In other news, a Monster Hunter World Assassin’s Creed crossover is in the works.