Media finance veteran spencer Neumann appointed as chief financial officer (CFO) at Netflix Inc. (NFLX.O) announced on Wednesday.
Neumann is an accomplished media and financial executive who was most recently CFO of Activision Blizzard and previously held several senior positions at The Walt Disney Company. He succeeds David Wells who served as CFO since 2010. Prior to that, Mr. Neumann held a number of positions of increasing responsibility at The Walt Disney Company, most recently serving as the CFO and executive vice president of Global Guest Experience of Walt Disney Parks and Resorts, from 2012 until May 2017.
From 2005 to 2012, Mr. Neumann worked at the private equity firms of Providence Equity Partners and Summit Partners. Prior to that, Mr. Neumann held several other roles with Disney, which he initially joined in 1992, including executive vice president of the ABC Television Network from 2001 to 2004 and CFO of the Walt Disney Internet Group from 1999 to 2001.
“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 Reed Hastings, Netflix Chief Executive Officer. “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.”
According to reports -Netflix, which is making more of its own films and shows, would like its next CFO to be based in Los Angeles with a focus on production finance.
Meanwhile, Activision on Wednesday named Dennis Durkin as CFO in place of Neumann.