Activision Blizzard’s tumultuous 2018 ended last night with a regulatory filing that announced the firing of their Chief Financial Officer (CFO) Spencer Neumann. Per the filing, the termination of his employment was “unrelated to the Company’s financial reporting or disclosure controls and procedures.” He is currently on paid leave, per the company.
Since the beginning of 2018, the company’s stock has fallen an estimated 43% from its’ peak at the time this piece was written.
Over the past 12 months, the company has reported a drop in the number of active users playing their titles, teased Diablo:Immortal --much to the chagrin of the community--, lost their long-time CEO Mike Morhaime and canceled their professional Heroes of the Storm competitive scene.
According to Reuters, their former CFO, Neumann, is expected to join Netflix in the same position within the next few days. During the 2018 fiscal year, a filing reports that Neumann collected $9.47 million in total compensation from his former company.
Chief Corporate Officer (COO) Dennis Durkin will act as the company’s CFO in the meantime, according to a filing.
Tim Rizzo is the editor and a reporter for Inven Global. He joined the company back in 2017.