December 31, 2018 / 10:30 PM / 21 days ago

Activision Blizzard plans to terminate CFO Neumann

(Reuters) - Activision Blizzard Inc (ATVI.O) on Monday said it intends to terminate Chief Financial Officer Spencer Neumann for reasons unrelated to the video game publisher’s financial reporting or disclosure controls and procedures.

Neumann has been placed on a paid leave of absence from the company, Activision Blizzard said, adding that Neumann will get an opportunity to demonstrate why termination of his employment is not justified.

The company did not elaborate on the reasons for the planned termination. It did not immediately respond to requests for comment.

Neumann did not immediately respond to Reuters request for comment over LinkedIn.

Chief Corporate Officer Dennis Durkin will assume the duties of CFO effective Jan. 1 until the issue is resolved, Activision said in a regulatory filing here

If Neumann ultimately ceases to be the CFO, then Durkin will take over the role, the company said.

Durkin, 48, joined Activision in March 2012 and has served as CFO until May 2017, after which he took the role of Chief Corporate Officer.

Reporting by Munsif Vengattil in Bengaluru; Editing by Shailesh Kuber

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