Netflix Hires Activision CFO
January 01 2019 - 12:09AM
Dow Jones News
By Joe Flint
Netflix Inc. is expected to name Activision Blizzard Inc. Chief
Financial Officer Spencer Neumann as its new chief financial
officer as early as this week, a person familiar with the matter
said.
Activision Blizzard said in a securities filing Monday that it
was putting Mr. Neumann on paid leave and that he would
subsequently be fired for cause unrelated to the company's
financial reporting or disclosure procedures. The videogame company
said chief corporate officer Dennis Durkin would take over as chief
financial officer, a post he previously held.
Mr. Neumann joined Activision Blizzard 18 months ago, and his
contract hadn't expired, according to a securities filing. Netflix
has been sued by by 21st Century Fox and Viacom Inc., who accused
the company of poaching executives still under contract.
Wall Street Journal parent News Corp and 21st Century Fox share
common ownership.
Before working for Activision Blizzard, Mr. Neumann held
multiple positions at Walt Disney Co. in its theme-park and
television divisions. He also had stints at private-equity firms
Providence Equity Partners and Summit Partners.
At Netflix, Mr. Neumann will be reunited with several former
Disney colleagues, including board member Anne Sweeney, who oversaw
a large chunk of the company's television operations. Earlier in
December, Netflix hired away longtime ABC programming executive
Channing Dungey into a senior creative position.
Mr. Neumann, who will be based in Los Angeles, is succeeding
David Wells, who announced his intention to step down as Netflix's
chief financial officer in August.
News of Netflix's plans to hire Mr. Neumann were first reported
by Reuters.
Sarah Needleman contributed to this article.
Write to Joe Flint at joe.flint@wsj.com
(END) Dow Jones Newswires
December 31, 2018 23:54 ET (04:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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