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Report: Netflix to tap Activision Blizzard's CFO

Netflix Inc. is anticipated to appoint Spencer Neumann as its CFO, Reuters reported Jan. 1, citing a source familiar with the matter.

This comes after Activision Blizzard Inc. said it planned to terminate its CFO, Neumann, while placing him on a paid leave of absence. His potential termination from Activision Blizzard is not related to the company's financial reporting or disclosure controls and procedures, according to the company.

Effective Jan. 1, Dennis Durkin, Activision Blizzard's chief corporate officer, will assume the role of the principal financial officer. Durkin would become the CFO, in case Neumann ceases to be the finance head.

Durkin joined the company as CFO in March 2012 and served in that role until May 2017, before taking on the chief corporate officer position in May 2017.

Neumann is reportedly expected to join Netflix in early 2019, with the announcement due in the next few days, replacing David Wells, who previously announced to step down as CFO of the streaming giant.