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Netflix poaches its new CFO from Activision

By midian182 · 4 replies
Jan 2, 2019
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  1. 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.

  2. Uncle Al

    Uncle Al TS Evangelist Posts: 5,393   +3,780

    Activision???? I didn't even know they were still around, except in somebody's garage ....... LOL..... old age does it again!
  3. H3llion

    H3llion TechSpot Paladin Posts: 1,694   +438


    They are still quite big. They had a merger with Blizzard a while back.
    Clamyboy74 likes this.
  4. Bubbajim

    Bubbajim TechSpot Staff Posts: 681   +660

    They do that tiny, indie game that no one's heard of - Call of Duty.
    H3llion likes this.
  5. AnonymousSurfer

    AnonymousSurfer TS Guru Posts: 456   +40

    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.

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