Netflix poaches its new CFO from Activision

midian182

Posts: 6,297   +53
Staff member

On Monday, Activision Blizzard revealed in an SEC filing that it intended to fire Neumann for reasons "unrelated to the company's financial reporting or disclosure controls and procedures." He has also been placed on paid leave “pending an opportunity for him to demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified.” All of which sounds as if Activision discovered Neumann was planning to depart and decided to fire him first.

The news saw Activision’s shares fall by nearly 1 percent in after-hours trading.

According to Reuters and the Wall Street Journal, Neumann is set to take over from Netflix CFO David Wells, who has been at the company for fourteen years. Back in August, Wells said he planned to leave the firm after helping find his replacement. Reuters’ sources say Netflix would like its next CFO to be based in Los Angeles with a focus on production finance. Wells is based in Northern California.

Neumann received $9.47 million in total compensation during Activision Blizzard’s most recent fiscal year.

Whether Netflix’s customers will notice any changes following Neumann’s arrival is unclear. Here’s hoping we won’t see the introduction of microtransactions that are so loved by Activision.

Permalink to story.

 

Uncle Al

Posts: 7,761   +6,388
Activision???? I didn't even know they were still around, except in somebody's garage ....... LOL..... old age does it again!
 

AnonymousSurfer

Posts: 456   +38
I wonder if they'll decide to go mobile only like they did with the new Diablo coming out!

In all seriousness, he's the CFO not the CTO. Any major changes coming to netflix would be around what movies/TV shows they have and how much it costs per month. I'm not sure anyone will notice this transition of power, save for the few of us on tech sites.