Activision Plans to Fire CFO Neumann, Puts Him on Paid Leave

Activision-Blizzard CFO Fired for'Causes Unrelated to the Company's Financial Reporting

Activision-Blizzard CFO Fired for'Causes Unrelated to the Company's Financial Reporting

While the reason for Neumann's firing may not have been financial, it appears to have had a financial impact on the company. Since then, Activision Blizzard has said in a press release that Neumann was "terminated for cause for violating his legal obligations to the company", a violation that in all likelihood looks to be related to his quick jump over to Netflix.

According to Reuters, Neumann is expected to start at Netflix in early 2019, so an official announcement might be coming soon. Since October, the company's stock has dropped significantly, and now it is firing their Chief Financial Officer Spencer Neumann.

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.

Neumann did not immediately respond to Reuters request for comment over LinkedIn.

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Activision Blizzard said in a securities filing Monday, that it was putting Neumann on paid leave and that he would subsequently be fired for cause unrelated to the company's financial reporting or disclosure procedures.

He's held various other senior executive roles at Disney, including executive vice-president of the ABC Television Network from 2001 to 2004 and CFO of the Walt Disney Internet Group from 1999 to 2001.

Durkin, 48, joined Activision in March 2012 and has served as CFO until May 2017, after which he took the role of Chief Corporate Officer.

During this time, and effective as of the new year, former CFO Dennis Durkin, who is now the current chief corporate officer, will take over Neumann's duties.

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