Activision Blizzard has fired their Chief Financial Officer, Spencer Neumann.
It’s been a rough year for the company with their stock tanking since October. Yahoo reports that Neumann’s release is
The company is the force behind some major releases such as World of Warcraft: Battle for Azeroth, Destiny 2: Forsaken, Call of Duty: Black Ops IIII, and Spyro Reignited Trilogy.
But even with these AAA titles in the industry, they haven’t brought enough profits to save the company’s stock from dropping like the NYE ball. After the stock reached its peak in October which was around $83, it then dropped consistency over time and now hovers around $46. The stock has yet to show much fluctuation even with major releases and player numbers. The titles are popular, but that doesn’t mean they’re profitable for the company.
Neumann will be replaced with Dennis Durkin who joined in 2012 ad the CFO and then CCO in 2017. He has experience with Microsoft (12 years) where he became part of corporate development and eventually Xbox’s CFO/COO.
As for Neumann, he’s now moving in with Netflix who has snagged him up. Reuters reports that we should expect to see an official announcement regarding the case and he’ll be the new CFO, which is the same position he had at Activision Blizzard.