Towards the end of 2018, there were a lot of rumors about significant shifts happening at Activision Blizzard - including fears from some of the employees themselves. Now it looks like some of those changes are in progress effective immediately, because it looks like the company's CFO Spencer Neumann is getting the axe.
According to a recent report from Bloomberg, Activision Blizzard has placed Chief Financial Officer Spencer Neumann on paid leave before they officially terminate him all together. According to recently obtained documents, he was put on paid leave until he could “demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified."
Though the above terminology does paint a picture, the company was clear that his termination will be “unrelated to the company’s financial reporting or disclosure controls and procedures.” This move did prompt Dennis Durkin to be reinstated as the company's CFO until further notice.
Though he has been given notice and everything has been made official, the CFO is technically still under contract and was still under that same contract when he accepted a position over at Netflix.
“Spencer is a stellar entertainment executive and we’re thrilled that he will help us provide amazing stories to people all over the world,” Reed Hastings, Netflix’s chairman and CEO, said in a statement Wednesday. “I also want to again say thank you to David Wells, on behalf of the company and our shareholders, for his invaluable contributions at Netflix over the past 14 years.”
Neumann commented: “Netflix is a singular brand, and I’m excited and honored 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.”
This isn't the first for the company to "poach" employees while still under contract, this practice is something that has landed Netflix in hot water with other companies as well - including 21st Century Fox and Viacom Inc.1comments
With Co-Founder Mike Morhaime having stepped down earlier this year right before the famous BlizzCon celebration, a lot of members of the Blizzard community are left feeling confused about a company that usually feels so familiar.
What are your thoughts on the various reports about the state of the company? Join in on the conversation in the comment section below, or hit me up over on Twitter @DirtyEffinHippy!