Netflix Reportedly Taps Activision Blizzard' Spencer Neumann As CFO

(RTTNews) - Netflix Inc. (NFLX) is planning to name Activision Blizzard Inc.' (ATVI) financial chief Spencer Neumann as its new chief financial officer, the Wall Street Journal has reported citing a person familiar with the matter.

On December 31, 2018, Activision Blizzard disclosed in a regulatory filing that it intends to terminate Spencer Neumann's employment for cause unrelated to the company's financial reporting or disclosure controls and procedures. Also Neumann has been placed on a paid leave of absence from the company.

Activision Blizzard has named Dennis Durkin to assume the duties of the principal financial officer. In the event Neumann ultimately ceases to be the Chief Financial Officer, then Durkin will become the Chief Financial Officer.

Spencer Neumann has served as Activision Blizzard' Chief Financial Officer since May 2017. Prior to joining Activision Blizzard, Neumann held a number of positions of increasing responsibility at The Walt Disney Company (DIS). From 2005 to 2012, Neumann worked at the private equity firms of Providence Equity Partners and Summit Partners.

NFLX closed Monday's trading at $267.66, while ATVI closed the trading at $46.57.