Activision Set to Fire CFO for Mysterious, Undeclared Cause

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Assuming Neumann does indeed end up at Netflix which seems all but confirmed, Durkin will then officially be promoted to the CFO role in a full capacity.

Neumann said on January 2nd: "Netflix is a singular brand, and I'm excited and honoured for the opportunity to work with the Netflix team and all of our stakeholders to build on the company's exceptional track record of success and innovation".

Activision Blizzard is having a year of ups and downs.

Netflix didn't provide a start date for Neumann. While misconduct could be a reason for his termination, rumors reported by the Wall Street Journal and other publications say Neumann was hired by Netflix while still under contract with Activision Blizzard and that was the reason for termination. He will succeed David Wells, the 14-year veteran of the company who is leaving after serving as CFO since 2010.

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A source close to the issue has said that this all occurred after Netflix had poached Neumann to take on the role as CFO at the streaming company.

Yahoo reports that Activision's CFO's firing is "unrelated to the Company's financial reporting or disclosure controls and procedures", but beyond that, no reason has been given.

Neumann was the CFO at Activision Blizzard since May 2017 and before that was the CFO and executive vice-president of global guest experience at Disney's Walt Disney Parks and Resorts division.

Activision Blizzard has terminated Neumann "for violating his legal obligations to the Company". In light of the above, effective January 1, 2019, Mr. Dennis Durkin, our Chief Corporate Officer, will assume the duties of the principal financial officer (Chief Financial Officer) of the Company.

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