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Netflix’s New CFO Had Contract Barring Him From Job Shopping

  • Neumann was put on leave by Activision on New Year’s Eve
  • Video-game maker paid him nearly $9.5 million annually
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Photographer: Rodrigo Capote/Bloomberg

Spencer Neumann, who was abruptly put on leave by Activision Blizzard Inc. and then fired from his job as chief financial officer, had a provision in his contract that barred him from negotiating with other potential employers.

Activision, the maker of Call of Duty and other video games, said on New Year’s Eve it was firing Neumann for a cause unrelated to the company’s financial reporting. Netflix Inc. said Wednesday Neumann would be its new CFO. He replaces David Wells, who held the post for the last eight years and said in August he would be stepping down.