Netflix has poached a big name from Activision to fill a vacant CFO position.
When a company gets to be the size that video streaming platform Netflix is, you're bound to need more employees to keep functioning properly. You'll also need to fill existing roles as current employees quit or moved onto another role within the company. In the case of Netflix, they've recently faced a situation of the latter — and they've received some ire as a result.
As reported by Engadget this past Tuesday — Netflix is set to replace their Chief Financial Officer (CFO) role with an employee of video game company Activision Blizzard. What was initially a rumor has since been confirmed, with Activision's CFO Spencer Neumann indeed leaving this current employer to become Netflix's new CFO. While no official start date was revealed, it's expected that Neumann will start sooner than later.
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While this is clearly good news for Netflix, to say that Activision is upset by this would be an understatement. Activision revealed that Neumann was still under their 18-month contract at the time. The company went on to explain that their then-CFO had been put on paid leave back in late December. By the time Neumann's employment with Netflix had been confirmed on Jan. 2, 2019, Activision issued a press release to announce that they fired him and appointed a new CFO, Dennis Durkin. In the same press release, they cited, "violating his legal obligations," as to why they let Neumann go. There's no doubt that this meant that they fired him because he broke the aforementioned contract to work for Netflix.
As brash as this move is, it's not exactly unprecedented on Netflix's behalf. They previously hired Channing Dungey from ABC for creative work despite Dungey already being employed by ABC. So it's safe to say that Netflix will do whatever it takes to hire the best of the best for their company.
As for what will happen to Netflix with Neumann as their CFO, it's hard to say. After all, Netflix is more than a little notorious for dumping money in creating new video content at the cost of huge financial debt. Whether Neumann sticks with that or tries to steer the company in a different direction with their finances is anyone's guess. It will be very interesting to see what happens — and it won't take long to find out.