Activision Blizzard (ATVI) has had a rocky year in the market. During 2018, their stocks fell a total of 26 percent, an entire 10% of that fall took place last month after the company declared a drop in their total number of users.
Recently, they also stated that they were halting any further development on their MOBA, Heroes of the Storm, and not to mention the abysmal Blizzcon where the backlash towards Diablo Immortal grew into becoming meme-worthy.
Activision Blizzard has since stated that they plan on dismissing their CFO, Spencer Neumann.
According to Activision Blizzard, the plan to terminate Neumann is “unrelated to the company’s financial reporting or disclosure controls and procedures.” Before his dismissal, Neumann will have a chance to argue that there isn’t a reason to terminate his employment.
The company’s Chief Corporate Officer, Dennis Durkin, will take on CFO responsibilities effective today, January 1. If Neumann doesn’t regain his role at Activision Blizzard, Durkin will take over the role permanently.
This all comes after Netflix poached Neumann to become their very own CFO, according to an undisclosed source close to the situation. rior to his involvement at Activision Blizzard, Neumann worked with Disney.
Currently, Activision Blizzard has not commented on these statements.