Netflix names former gaming company exec Spencer Neumann as CFO

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Now, newswire service Reuters is reporting that the company has a new chief financial officer: Spencer Neumann, recently terminated from the same role at gaming behemoth Activision Blizzard over 'cause unrelated to the company's financial reporting or disclosure controls and procedures, ' according to the company's regulatory filing on the matter.

Activision Blizzard has had a bit of a turbulent year, owing to a steady to decline in that all-important monthly active user (MAU) count, with weak growth across many of its major properties. The SEC report also states that Activision Blizzard is allowing Neumann to file a report to counter the firing if he wants, but is on paid leave until that can happen.

News outlets have reported that no start date has been announced.

Dennis Durkin was the CFO for Activision Blizzard from 2012 to 2017, a period where their stock grew from roughly $11 per share to $50. He will succeed David Wells, the 14-year veteran of the company who is leaving after serving as CFO since 2010.

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Activision Blizzard has terminated Neumann "for violating his legal obligations to the Company". Before that, he held several other roles with Disney, which he first joined in 1992, including EVP of the ABC Television Network from 2001-04 and CFO of the Walt Disney Internet Group from 1999-2001.

Chief Corporate Officer Dennis Durkin will assume the duties of CFO effective January 1 until the issue is resolved, Activision said in a regulatory filing.

If Neumann ultimately ceases to be the CFO, then Durkin will take over the role, the company said.