INTERNATIONAL – Netflix said on Wednesday it had appointed media finance veteran Spencer Neumann from Activision Blizzard 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 chief financial officer 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. 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 chief financial officer in place of Neumann, who was terminated for violating his legal obligations to the company.
In a statement on the Netflix Website, Reed Hastings, Netflix Chief Executive Officer said: "Spencer is a stellar entertainment executive and we’re thrilled that he will help us provide amazing stories to people all over the world."
“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.”