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Exclusive: Netflix poaches CFO from Activision Blizzard – source

Exclusive: Netflix poaches CFO from Activision Blizzard – source

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The Netflix brand is proven on this illustration in Encinitas, California October 14, 2014. REUTERS/Mike Blake/File Picture

(Reuters) – Netflix Inc is predicted to announce within the subsequent few days that it has poached media finance veteran Spencer Neumann from Activision Blizzard to be its chief monetary officer, a supply accustomed to the matter advised Reuters.

Neumann will begin at Netflix in early 2019, the supply mentioned.

Earlier on Monday, Activision Blizzard mentioned in a regulatory submitting that it supposed to fireplace Neumann for an unspecified cause.

Neumann has served in a wide range of finance roles together with at Walt Disney Co. He replaces David Wells, who in August mentioned he deliberate to step down after 14 years on the streaming media big.

The supply mentioned Netflix, which is making extra of its personal movies and sequence, would really like its subsequent CFO to be based mostly in Los Angeles with a concentrate on manufacturing finance. Wells relies northern California.

Activision in its regulatory submitting mentioned that it supposed to terminate Neumann “for trigger unrelated to the corporate’s monetary reporting or disclosure controls and procedures.” It mentioned that Neumann had been positioned on paid depart.

Reporting by Kenneth Li in New York; Enhancing by Leslie Adler

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