In a filing with the Securities and Exchanges Commission, Activision Blizzard announced that they were terminating the contract of Chief Financial Officer Spencer Neumann. The reason given by the publishing company wasn't stated, as the report claims the termination is "for cause unrelated to the Company's financial reporting or disclosure controls and procedures."
For now, Neumann is on paid leave at Activision Blizzard. In the meantime, Neumann's role is being filled by Chief Corporate Officer Dennis Durkin, who will be tapped as CFO if Neumann leaves the publishing company. Durkin held the CFO position prior to Neumann when he assumed his current role in May of 2017.
However, Reuters is reporting that Neumann is being picked up to sit as CFO of streaming giant Netflix. Before working at Activision Blizzard, Neumann served as CFO of Disney's Parks and Resorts division.
The change in Activision Blizzard leadership comes on the heels of reports that the company lost seven million monthly active users (down to a mere 345 million) in the previous financial quarter.