Streaming media service, Netflix Inc has reportedly poached Spencer Neumann, an Executive from a rival company, Activision Blizzard as new Chief Financial Officer (CFO).
The media finance veteran who has served in various financial positions including Walt Disney Co would be replacing David Wells, who would step down after a 14 year run at Netflix.
With Netflix making most of its own movies and series, it would preferably want its CFO to reside in Los Angeles to focus on Production Finance. Wells is based at Northern California.
Neumann is expected to start at Netflix early 2019.
Activision in its regulatory filing said that it intended to fire Neumann over unspecified reasons