Netflix announced on Tuesday that Spencer Neumann, most recently the chief financial officer of Activision Blizzard, is joining the streaming giant as its new CFO.
Neumann will replace longtime CFO David Wells, who was with Netflix for more than a decade and was its chief financial officer since 2010. Wells announced his departure in August, but stayed on until Netflix chose his successor.
Neumann had served as Activision Blizzard’s CFO since May 2017. The video game giant, based in Santa Monica, California, pulled in more than $5 billion in revenue during the first nine months of 2018. During the same time period, Netflix made about $11.5 billion in revenue.
“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 said in a statement. “I also want to again say thank you to David Wells, on behalf of the company and our shareholders, for his invaluable contributions at Netflix over the past 14 years.”
Prior to Activision Blizzard, Neumann was the CFO and executive vice president of Global Guest Experience for Walt Disney Parks and Resorts for five years. Before Disney, he worked for private equity firms Providence Equity Partners and Summit Partners. Neumann graduated with both a B.A. in economics and his MBA from Harvard University.
“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,” Neumann said in a statement.