Activision Blizzard Inc. (ATVI) said Wednesday Dennis Durkin is returning as chief financial officer, effective immediately. The news follows the interactive gaming company's disclosure Monday (http://www.marketwatch.com/story/activision-blizzard-wants-to-fire-cfo-2018-12-31) that it notified CFO Spencer Neumann that it intended to terminate him for cause, with a separate report saying he would be hired by Netflix Inc. (NFLX). Durkin had been CFO of Activision from March 2012 to May 2017, and had most recently been serving as the company's chief corporate officer. "Dennis is a leader with unimpeachable integrity and exemplary character who displays impeccable judgment," said Chief Executive Bobby Kotick. "We missed having him in a more day-to-day operational and financial role and are glad to have him back as CFO." The stock dropped 2.5% in premarket trade, amid a broad-market selloff (http://www.marketwatch.com/story/dow-futures-sink-more-than-300-points-to-kick-of-2019-as-asian-markets-tumble-2019-01-02). It has plunged 44.2% over the past three months through Monday, while the S&P 500 has lost 14.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 02, 2019 08:14 ET (13:14 GMT)
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