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Activision-Blizzard CFO Fired for 'Causes Unrelated to the Company's Financial Reporting' - MMORPG.

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  • gervaise1gervaise1 Member EpicPosts: 5,713
    Nyctelios said:
    H0urg1ass said:
    Was he originally Activision side or Blizzard side?

    All speculation aside about what he may have done to get fired, it's important to know whether this is more of Activision cleaning house in Blizzard or something else. 
    If I remember correctly the rumors we had the entire last year was about a CFO from Activision side being put on Blizz to make cuts.
    He was neither Activision side or Blizzard side. He was hired from Disney in May 2017 as the CFO of Activision Blizzard. 
  • WhiteLanternWhiteLantern Member RarePosts: 2,869



    SBFord said:

    Arterius said:


    so for the brain dead what was this guys exact job? I just am curious how this will impact Blizzard/Activation going forward.


    CFO = Chief Financial Officer



    "A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions."


    Sooooo.... if he was fired "for cause unrelated to the Company's financial reporting or disclosure controls and procedures" which would mean not for his actual job performance, I'm going out on a limb and say he was fired for workplace harassment and/or grabassin.



    Or, he could have been habitually late for work. Mundane stuff still leads to firings.
    Gdemami

    I want a mmorpg where people have gone through misery, have gone through school stuff and actually have had sex even. -sagil

  • PhryPhry Member EpicPosts: 10,405
    Scot said:

    Phry said:


    Scot said:

    I am not sure how the CFO would be responsible for Diablo Immortal or the HoS missteps? He may of given such decisions a pass but I doubt he did more than oversee the soundness of their financial models.


    The guy apparently worked for Disney for 20 years or so before moving to ActiBlizz, so he is obviously very very good at what he does, that he has been poached by Netflix isn't really all that surprising, but that he would leave ActiBlizz after working there for only 18 months is, he doesn't seem like the type of guy who would just up and leave without some pretty good reasons, so i doubt it is just about the money, however, that ActiBlizz are effectively paying him off big time, to me means that the guy has significant information that ActiBlizz want to protect, although ActiBlizz's move to 'sack him' seems more likely to be an effort to discredit him or perhaps save face because of the Netflix thing, either way, i think we're likely to hear something interesting about ActiBlizz from a 'rumoured source' in the near future, i've already put in my order for an extra large box of popcorn! ;)



    Could well be but many top executives have a "if I leave for any reason" golden handshake clause. Bar proven criminal conviction they still get it. When you think about it is often the top guys who take the hit, to show to the world "lessons have been learned". So they have a contract that ensures they may take a hit professionally but not financially.
    He was already leaving ActiBlizz to join Netflix as their CFO, him being sacked and paid off is weird and sounds like ActiBlizz had a bit of a panic attack.
    Worth noting that nothing that ActiBlizz does can damage the guys rep, its solid in the industry and those who know, know. ;)
    Gdemami
  • DMKanoDMKano Member LegendaryPosts: 20,049
    Celcius said:

    DMKano said:



    SBFord said:


    ATVI is becoming the newsie's gift that keeps on giving. Interesting stuff all together considering the rocky last few months and what's likely to be a pretty dismal Q4 2018.






    Pretty much any video game company that isn't Epic is hurting.



    That's what happens when players spent 3 billion on Fortnite in 2018, less spent on other games.



    Blizzard needs an influx of sales - or they will be forced to cut staff in 2019.






    They pretty much have already cut staff, but just not devs. Over 200 people were laid off as a result of the Heroes life support announcement. They had professional teams being paid on salaries, including managers, pr,ect.

    Oh I know - I am talking about more cuts. Blizzard has always been regarded as one of the most stable companies in the industry as far as job security, if there is a large layoff at Blizzard that speaks volumes for the rest of the industry. 

    Imagine putting yourself in the shoes of a MMO dev - you look at the industry and you have to ask yourself- when do you pull the trigger to start looking elsewhere?
    SBFordGdemamiKalebGraysonborghive49Trolldefender99poorbaby
  • KalebGraysonKalebGrayson Member RarePosts: 430
    edited January 1
    These little things we keep seeing are axe chops in the tree.  I may not be yelling TIMBER, but I'm thinking it.  This, the BlizCON, Diablo Immortal, layoffs, etc. all seem like death from a million paper cuts...we might be watching history in the making.
    Gdemami
  • IselinIselin Member LegendaryPosts: 12,102
    The CFO in any gaming corp large enough to have one is the one senior management position that has the least to do with gaming. Actually almost sweet F all to do with it.

    It boggles my mind that some are trying to paint his exit as somehow related to the Diablo mobile reveal fiasco and other recent Blizzard gaming screw-ups. This is the one guy that 100% had nothing to do with that.

    gervaise1swagholecraftseekerkjempffScot
    “Microtransactions? In a single player role-playing game? Are you nuts?” 
    ― CD PROJEKT RED
  • NycteliosNyctelios Member EpicPosts: 3,158
    gervaise1 said:
    Nyctelios said:
    H0urg1ass said:
    Was he originally Activision side or Blizzard side?

    All speculation aside about what he may have done to get fired, it's important to know whether this is more of Activision cleaning house in Blizzard or something else. 
    If I remember correctly the rumors we had the entire last year was about a CFO from Activision side being put on Blizz to make cuts.
    He was neither Activision side or Blizzard side. He was hired from Disney in May 2017 as the CFO of Activision Blizzard. 
    The rumors were spot on on every single detail. Sorry but I'll go with them.
    Gdemami

    Steam ID Discord ID: Night # 6102 - GoG ID - 

  • PhryPhry Member EpicPosts: 10,405
    Iselin said:
    The CFO in any gaming corp large enough to have one is the one senior management position that has the least to do with gaming. Actually almost sweet F all to do with it.

    It boggles my mind that some are trying to paint his exit as somehow related to the Diablo mobile reveal fiasco and other recent Blizzard gaming screw-ups. This is the one guy that 100% had nothing to do with that.

    He may not be involved in those projects, but i wouldn't say they had no impact on his decision to move to Netflix, if things were going well at ActiBlizz then i doubt Netflix would have been as able to steal him away so easily.
    As someone deep on the inside of ActiBlizz he would have a very keen understanding of the company and have a pretty good idea of its financial 'future', his leaving is damaging, no mistake and i kind of expect this to impact ActiBlizz's share values, it doesn't make ActiBlizz's actions any less interesting, i am sure investors are taking serious note too, if they were not already that is  ;)
    KalebGraysonGdemami
  • meonthissitemeonthissite Member UncommonPosts: 917
    "Causes Unrelated to the Company's Financial Reporting" --
    Riiiiiiiight! And I'm Mary Poppins!
  • BlueThunderBearBlueThunderBear Member UncommonPosts: 155

    d_20 said:


    Alverant said:

    The guy got $10 million for being fired. Am I the only one who has a problem with this? Will the people who lost their jobs because of his bad decisions get a severance package just as good?


    It's how the world is. While you were gaming, he was getting his MBA and studying corporate finance at Harvard and networking with alumni. Who knows what kind of connections he was born into, besides? Pretty sure his parents weren't share-croppers.



    Yes, an MBA in Finance totally justifies a 10 million dollar bonua for being shitcanned. Im sure it has nothing to do at all with the politics of corrupt corporations and is based entirely upon merit.
    KalebGraysonGdemami
  • TorvalTorval Member LegendaryPosts: 18,701
    gervaise1 said:
    Thane said:
    <Snip>

    soooo... he was the guy who had a phone?:)
    And he used it to call Netflix!
    Best use of the Lifeline ever. Made way more than a mill on that. :lol:
    KalebGrayson
    take back the hobby: https://www.reddit.com/r/patientgamers/

    traveller, interloper, anomaly
    ¯\_(ツ)_/¯

  • DragnelusDragnelus Member EpicPosts: 2,785

    This guy isn't Blizzard's CFO btw. Amrita Ahuja is the current CFO of Blizzard. She worked at Activision before.
    Source:
    https://kotaku.com/the-past-present-and-future-of-diablo-1830593195
    https://www.linkedin.com/in/amrita-ahuja-2402595


  • PhryPhry Member EpicPosts: 10,405

    d_20 said:


    Alverant said:

    The guy got $10 million for being fired. Am I the only one who has a problem with this? Will the people who lost their jobs because of his bad decisions get a severance package just as good?


    It's how the world is. While you were gaming, he was getting his MBA and studying corporate finance at Harvard and networking with alumni. Who knows what kind of connections he was born into, besides? Pretty sure his parents weren't share-croppers.



    Yes, an MBA in Finance totally justifies a 10 million dollar bonua for being shitcanned. Im sure it has nothing to do at all with the politics of corrupt corporations and is based entirely upon merit.
    While your blaming unrelated people, why not include the janitorial staff too, maybe its really their fault. :p
    ConstantineMerus
  • gervaise1gervaise1 Member EpicPosts: 5,713
    Nyctelios said:
    gervaise1 said:
    Nyctelios said:
    H0urg1ass said:
    Was he originally Activision side or Blizzard side?

    All speculation aside about what he may have done to get fired, it's important to know whether this is more of Activision cleaning house in Blizzard or something else. 
    If I remember correctly the rumors we had the entire last year was about a CFO from Activision side being put on Blizz to make cuts.
    He was neither Activision side or Blizzard side. He was hired from Disney in May 2017 as the CFO of Activision Blizzard. 
    The rumors were spot on on every single detail. Sorry but I'll go with them.
    Doesn't make any rumours untrue; just not - specifically - about this person.

    As @Dragnelus says however Blizzard's finance head is Amrita Ahuja - who was previously on the Activision side of things. And she will have reported to this guy who may well, along with the AB board, have set cost and profitability targets etc. 
  • gervaise1gervaise1 Member EpicPosts: 5,713



    SBFord said:

    Arterius said:


    so for the brain dead what was this guys exact job? I just am curious how this will impact Blizzard/Activation going forward.


    CFO = Chief Financial Officer



    "A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions."


    Sooooo.... if he was fired "for cause unrelated to the Company's financial reporting or disclosure controls and procedures" which would mean not for his actual job performance, I'm going out on a limb and say he was fired for workplace harassment and/or grabassin.



    Or, he could have been habitually late for work. Mundane stuff still leads to firings.
    We can surmise that the first stories about AB placing him on administrative leave and/or firing him and/or him challenging the firing and/or AB paying a compensation package ..... 

    were the result of the later stories - about Netflix hiring / poaching him.
    Phry
  • RnjypsyRnjypsy Member UncommonPosts: 62
    Maybe they'll promote Salzman.....best case scenario:)
  • PhryPhry Member EpicPosts: 10,405
    gervaise1 said:



    SBFord said:

    Arterius said:


    so for the brain dead what was this guys exact job? I just am curious how this will impact Blizzard/Activation going forward.


    CFO = Chief Financial Officer



    "A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions."


    Sooooo.... if he was fired "for cause unrelated to the Company's financial reporting or disclosure controls and procedures" which would mean not for his actual job performance, I'm going out on a limb and say he was fired for workplace harassment and/or grabassin.



    Or, he could have been habitually late for work. Mundane stuff still leads to firings.
    We can surmise that the first stories about AB placing him on administrative leave and/or firing him and/or him challenging the firing and/or AB paying a compensation package ..... 

    were the result of the later stories - about Netflix hiring / poaching him.
    Yes, this does seem to all begin with AB finding out that Netflix were about to announce that he was joining them as their CFO. Which probably went as well as you can imagine  :p
    tweedledumb99
  • GruntyGrunty Member RarePosts: 8,586
    edited January 1
    Where in this four paragraph article does it say he was paid 10 million dollars as severance?  The second paragraph say he received nearly 10 million dollars in compensation during the previous fiscal year.  

    Has everyone lost their ability to understand the written word?

    gervaise1PhryIselincraftseekertweedledumb99
    "I used to think the worst thing in life was to be all alone.  It's not.  The worst thing in life is to end up with people who make you feel all alone."  Robin Williams
  • TorvalTorval Member LegendaryPosts: 18,701
    Grunty said:
    Where in this four paragraph article does it say he was paid 10 million dollars as severance?  The second paragraph say he received nearly 10 million dollars in compensation during the previous fiscal year.  

    Has everyone lost their ability to understand the written word?

    Hyperbole is the fuel that keeps us running. Much like reddit, people just say shit, pandering to the popular bandwagon, and people run with it because that's what they want to hear.

    In my world of making things up I think he found that his strategies didn't work well and that AB isn't happy with the results or possibly his strategy. Maybe media is more his speed considering his tenure at Disney and so Netflix is more familiar territory. I also think Netflix is at the point where they need to reexamine their position as the future media is turbulent considering Prime Video and Disney's upcoming service. We'll see.
    ConstantineMerus
    take back the hobby: https://www.reddit.com/r/patientgamers/

    traveller, interloper, anomaly
    ¯\_(ツ)_/¯

  • tweedledumb99tweedledumb99 Member UncommonPosts: 209
    edited January 2





    So, a possibility: CFO wasn't fired, was poached, then ActiBlizz says they were planning on firing former CFO to drag name through mud. Because they are fucks.

    Edit: others covered it above.
    Post edited by tweedledumb99 on
    Gdemami
  • laseritlaserit Member EpicPosts: 6,032
    You can't quit! You'r FIRED!

    with pay....

    It's just Activision telling him not to let the door hit him on the way out.


    tweedledumb99

    "Be water my friend" - Bruce Lee

  • swagholeswaghole Member UncommonPosts: 9
    Why are people so worked up over this? Am I missing something here..?
  • NycteliosNyctelios Member EpicPosts: 3,158
    swaghole said:
    Why are people so worked up over this? Am I missing something here..?
    World of Warcraft and Activision Blizzard are in a certain important, yet tight, spot. Most news could tell a lot about their future.
    Gdemami

    Steam ID Discord ID: Night # 6102 - GoG ID - 

  • DaranarDaranar Member UncommonPosts: 353
    Dang it, I let go of my puts on ATVI a few weeks back. Just when you think a company bottoms...lol

    If I want a world in which people can purchase success and power with cash, I'll play Real Life. Keep Virtual Worlds Virtual!


  • SirAgravaineSirAgravaine Member RarePosts: 458


    $10 million dollar compensation to a single person. I hope these companies go bankrupt so they can understand they would be hugely profitable if those salaries were significantly cut. All this crap happens because the more money the head honchos want to earn the less money the company overall will make.



    While I agree with your sentiment, your statement is likely extremely false. They're paying for experience and expertise.
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