January 2, 2019 / 5:06 PM / in 17 days

Netflix poaches Activision's Neumann for CFO role

The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson

(Reuters) - Netflix Inc (NFLX.O) said on Wednesday it had appointed media finance veteran Spencer Neumann from Activision Blizzard (ATVI.O) as its chief financial officer.

Reuters reported on Monday citing a source that the media streaming company had poached Neumann from the video game publisher.

Netflix, which is making more of its own films and shows, would like its next CFO to be based in Los Angeles with a focus on production finance, the source told Reuters.

Neumann has served in a variety of finance roles, including at Walt Disney Co (DIS.N). He replaces David Wells, who in August said he planned to step down after 14 years at the streaming media giant.

Meanwhile, Activision on Wednesday named Dennis Durkin as CFO in place of Neumann, who was terminated for violating his legal obligations to the company.

Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur

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