Former Activision Blizzard CFO Spencer Neumann has now been picked up by Netflix
The news came mere hours after Neumann was fired from Activision Blizzard. Neumann was fired from Activision not due to weak performance, but because he violated a provision in his employment contract that prevented him from seeking other jobs. Specifically, this was the "covenant not to shop" for other jobs before only six months of the contract were left.
Replacing David Wells, Neumann has served as CFO of Disney's
"Spencer is a stellar entertainment executive and we're thrilled that he will help us provide amazing stories to people all over the world," said Netflix CEO Reed Hastings. He also thanked the former CFO, David Wells, who announced in August that he would be leaving to pursue philanthropy. Wells stuck around at Netflix until they were able to find a replacement.
"Netflix is a singular brand, and I'm excited and honored for the opportunity to work with the Netflix team and all of our stakeholders to build on the company's exceptional track record of success and innovation," said Neumann.
Disney is also planning to launch a platform that rivals Netflix's own next year. Given that Neumann has experience with Disney, the insight he brings to the Netflix team could provide an invaluable competitive advantage to the entertainment giant.
The move comes as part of Netflix's collective effort to recruit employees from their contemporaries' organizations. Other poached employees include ABC's entertainment chief Channing Dungey.