Netflix Inc. announced that they have appointed Spencer Neumann as CFO poaching him from Activision Blizzard.
Netflix Inc. is an American media-services provider headquartered in Los Gatos, California founded by Reed Hastings and Marc Randolph in 1997. It allows subscribers to stream television series and films via their website on personal computers or the Netflix software platform. Netflix is the world’s 10th largest internet company by revenue.
After Netflix CFO, David Wells, steps down last August 2018, the company finally announced their newly hired CFO, Spencer Neumann. Neumann was a finance veteran at Activision Blizzard, an American video game holding company founded in July 2008.
On Monday, Dec. 31, Activision Blizzard intends to fire Neumann for unrelated company reasons but did not elaborate this reasons. Dennis Durkin, Activision Blizzard’s Chief Corporate Officer, will assume the duties of Neumann.
Prior to Activision Blizzard, Neumann also serves as CFO and executive vice president of Global Guest Experience for Walt Disney Parks and Resorts for five years. He also worked at private equity firms Providence Equity Partners and Summit Partners.
Reed Hastings, CEO of Netflix, said in his statement that Spencer is a stellar entertainment executive and they are thrilled that Neumann will help Netflix provide amazing stories to people all over the world. He also thanked David Wells for his invaluable contributions at Netflix over the past 14 years.
According to Neumann, Netflix is a singular brand, and he is excited to and honored for the opportunity to work with the streaming giant team and all of their stakeholders to build on the company’s exceptional track record of success and innovation.
Neumann will start at Netflix in early 2019.