It was officially announced by Activision Blizzard that CFO Spencer Neumann’s contract with the company is being terminated. His termination is for an unrelated cause to the company’s financial reporting and disclosure controls and procedures. Despite his termination from the company, it is being reported that Neumann will be joining Netflix as their new Chief Financial Officer. Neumann does bring a lot of experience with him as he was the CFO of Disney Parks and Resorts before joining Activision Blizzard.
Of course, Neumann’s termination comes at an awkward time for Activision Blizzard. Destiny 2: Forsaken is not performing to the standards Activision would expect it to. In addition, Blizzard is dealing with negative feedback on the World of Warcraft: Battle for Azeroth expansion as well as the PR disaster that was the Diablo Immortal announcement at this year’s BlizzCON. A report also indicates that Activision Blizzard lost 7 million monthly active users in the last quarter.
There have been no announcements for a replacement for Spencer Neumann at this time.