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Activision Blizzard CFO fired for unspecified cause (poached by Netflix)

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ponzies

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Oct 28, 2017
1,223
User Warned: Low effort thread
https://www.cnbc.com/2018/12/31/act...to-fire-its-cfo-for-an-unspecified-cause.html

updated: https://www.cnbc.com/2019/01/01/netflix-is-said-to-have-poached-cfo-from-activision-blizzard.html

Mod Edit:
Netflix is expected to announce in the next few days that it has poached media finance veteran Spencer Neumann from Activision Blizzard to be its chief financial officer, a source familiar with the matter told Reuters.

Neumann will start at Netflix in early 2019, the source said.

Earlier on Monday, Activision Blizzard said in a regulatory filing that it intended to fire Neumann for an unspecified reason.
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BY2K

BY2K

Membero Americo
The Fallen
Oct 25, 2017
4,682
Québec, Canada
The company did not provide a specific reason for the announcement about Chief Financial Officer Spencer Neumann but said it is "unrelated to the company's financial reporting or disclosure controls and procedures."
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Why do I feel this is exactly why?
 

Fanuilos

Avenger
Oct 27, 2017
4,131
Article mentions he started in 2017 and with the 2018 they had someone was gonna take the fall.
 
Akileese

Akileese

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Oct 25, 2017
1,698
BY2K said:
Why do I feel this is exactly why?
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They're a publicly traded company. I really don't think they'd lie about this. They may choose not to disclose it, but if it was related to earnings, their CFO would have been forced to resigned and not be fired. You typically fire a C level for gross negligence or something that damages the company outside of their business relations.
 
Skai

Skai

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Oct 27, 2017
1,172
He got a nice 10 million to fail. Also, I think a 40 million signing bonus.
 
kirbyfan407

kirbyfan407

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Oct 25, 2017
2,103
I wonder if we'll find out what the reason was.

[Edited in response to feedback and reconsideration regarding sensitivity and assumptions.]
 
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famikon

famikon

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Oct 25, 2017
4,604
ベラルーシ
https://www.activisionblizzard.com/senior-corporate-management/spencer-neumann

profile bio
SPENCER NEUMANN
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CHIEF FINANCIAL OFFICER OF ACTIVISION BLIZZARD
Spencer Neumann has served as our Chief Financial Officer since May 2017. Prior to joining the Company, Mr. Neumann held a number of positions of increasing responsibility at The Walt Disney Company, most recently serving as the chief financial officer and executive vice president of Global Guest Experience of Walt Disney Parks and Resorts, from 2012 until May 2017. From 2005 to 2012, Mr. Neumann worked at the private equity firms of Providence Equity Partners and Summit Partners. Prior to that, Mr. Neumann held several other roles with Disney, which he initially joined in 1992, including executive vice president of the ABC Television Network from 2001 to 2004 and chief financial officer of the Walt Disney Internet Group from 1999 to 2001. He is also a member of the national board of directors of Make-A-Wish America. Mr. Neumann holds a B.A. degree in economics from Harvard University and an M.B.A. degree from Harvard University.
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Tygre

Tygre

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Oct 25, 2017
11,100
Chesire, UK
Taking the statement at face value, I'm going to guess at some unpleasant (and hopefully not literal) skeletons in the closet.
 
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