Netflix Supposedly Poaches Activision Blizzard's CFO
 

Activision-Blizzard's stock hasn't been performing particularly well, even when compared to the overall market slump late last year. Right now, it's sitting at about 43 dollars a share, compared to 83 in late September. So, one might think that the firing of Activision's CFO, Spencer Neumann, could be related to the company's poor performance, but a report by Reuters claims that Netflix actually poached the CFO from the publisher. If the rumor is true, Netflix should make an announcement soon, and Spencer should start his new job sometime in 2019. Neumann has served in a variety of finance roles including at Walt Disney Co. He replaces David Wells, who in August said he planned to step down after 14 years at the streaming media giant. 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. Wells is based northern California. Activision in its regulatory filing said that it intended to terminate Neumann "for cause unrelated to the company's financial reporting or disclosure controls and procedures." It said that Neumann had been placed on paid leave.

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