Activision Blizzard plans to terminate CFO Neumann

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(Reuters) – Activision Blizzard Inc <ATVI.O> on Monday mentioned it intends to terminate Chief Monetary Officer Spencer Neumann for causes unrelated to the online game writer’s monetary reporting or disclosure controls and procedures.

Neumann has been positioned on a paid depart of absence from the corporate, Activision Blizzard mentioned, including that Neumann will get a chance to show why termination of his employment is just not justified.

The corporate didn’t elaborate on the explanations for the deliberate termination. It didn’t instantly reply to requests for remark.

Neumann didn’t instantly reply to Reuters request for remark over LinkedIn.

Chief Company Officer Dennis Durkin will assume the duties of CFO efficient Jan. 1 till the difficulty is resolved, Activision mentioned in a regulatory submitting https://www.sec.gov/Archives/edgar/knowledge/718877/000110465918075353/a18-42214_18ok.htm.

If Neumann in the end ceases to be the CFO, then Durkin will take over the function, the corporate mentioned.

Durkin, 48, joined Activision in March 2012 and has served as CFO till Could 2017, after which he took the function of Chief Company Officer.

(Reporting by Munsif Vengattil in Bengaluru; Modifying by Shailesh Kuber)

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