Activision Blizzard Inc.
has been appointed CFO, a move that comes in the wake of the lawsuit filed against the company.
Netflix Inc.
for allegedly snatching his former CFO.
Activision Blizzard, known for the Call of Duty and World of Warcraft game franchises, announced Monday in Santa Monica, California, that it has promoted Armin Zerza to chief financial officer. Zerza, currently chief commercial officer and chief operating officer of Blizzard Entertainment, will assume his new responsibilities in the second quarter, following the current chief financial officer.
Dennis Durkin.
resigned.
Newsletter subscription
Finance Director’s Logbook
The Morning Ledger delivers daily corporate finance news and information from the CFO Journal team.
Durkin, who served as the company’s CFO from 2012 to 2017, took over as CFO in January 2019 after the then CFO…
Spencer Neiman.
to switch to Netflix.
According to Activision Blizzard, Neumann was illegally hired by Netflix in late 2018, resulting in a breach of contract that violated the company’s business practices. The company sued Netflix late last year, saying the lease cost the company business opportunities and millions of dollars were paid to retain other executives.
Mr Neuman, who has previously held positions in the following areas
Walt Disney Co.
and private companies, joined Activision Blizzard as CFO in May 2017. The employment contract was initially for a period of three years. Activision Blizzard’s lawsuit against Netflix is going ahead, the company’s lawyer Daniel Petrocelli has confirmed. Netflix did not immediately respond to a request for comment.
Activision Blizzard stated at the time that Mr. Neumann had been placed on paid leave and would subsequently be fired for reasons unrelated to the company’s financial reporting or disclosure procedures. The company has asked Mr. Durkin to return as CFO.
Two years ago, in a very difficult situation, Dennis took the helm as CFO, and his efforts and focus have enabled the company to grow again and create the momentum we have today, the CEO said.
Bobby Kotick.
Said.
Zerza, who joined the company in 2015 to manage Blizzard Entertainment’s finances, brings financial and operational expertise that makes him well suited for the CFO position, Kotick said. Mr. Zerza previously worked for a consumer goods giant.
Procter & Gamble Co.
about 20 years in various positions, according to Activision Blizzard.
When I hired Armin as Blizzard’s CFO six years ago, I expected him to eventually become the CFO of the entire company.
Thomas Tipple,
Vice President of Activision Blizzard.
The company, which announced its first quarter results at 4. May was expected to announce, did not immediately respond to a request for further comment.
-Maria Armenthal, Sarah Needleman and Boudia Twe contributed to this article.
Please email Nina Trentmann at [email protected].
Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
