Activision Blizzard Puts Financial Chief on Paid Leave, Intends to Fire Him--Update
December 31 2018 - 7:07PM
Dow Jones News
By Patrick Thomas
Activision Blizzard Inc. put its chief financial officer on paid
leave and intends to fire him, the company said in a securities
filing Monday.
The company said it intends to fire Spencer Neumann with cause,
but for reasons unrelated to its financial reporting or disclosure
procedures. Mr. Neumann will be on paid leave for an undisclosed
amount of time while he determines whether or not he wants to fight
the termination to prove it is unjustified.
Mr. Neumann became financial chief in May 2017. Before joining
the company, he held several positions at Walt Disney Co.,
including financial chief and executive vice president of Global
Guest Experience of Walt Disney Parks and Resorts.
Starting Tuesday, Activision's operating chief, Dennis Durkin,
will take over as financial chief. Mr. Durkin, 48 years old, joined
Activision in 2012 as financial chief but moved to operating chief
in May of 2017 when Mr. Neumann succeeded him.
The "Call of Duty" publisher's stock has tumbled lately, ending
2018 down more than 26%, partly due to the success of rival game
"Fortnite," and its weakness in mobile gaming overall.
(END) Dow Jones Newswires
December 31, 2018 18:52 ET (23:52 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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