Activision Blizzard Inc. (NASDAQ: ATVI) announced Wednesday that it would be making a change in its top-level leadership. Specifically, the video game maker announced that it has named Dennis Durkin as its chief financial officer (CFO), effective immediately.
Durkin is replacing Spencer Neumann, who was terminated for cause for violating his legal obligations to the company. He is also reprising the role he held from March 2012 to May 2017.
During Durkin’s tenure as CFO of Activision Blizzard, the company delivered strong financial performance, and the stock price saw a greater than 400% increase during that time.
Most recently, Durkin had been serving as chief corporate officer for the company. As CFO, Durkin will continue to report directly to Activision Blizzard CEO Bobby Kotick.
Kotick commented:
Dennis is a leader with unimpeachable integrity and exemplary character who displays impeccable judgment. He is a seasoned leader known for driving financial and operational excellence. We missed having him in a more day-to-day operational and financial role and are glad to have him back as CFO. He brings an engaging and rigorous approach to the CFO role and is highly regarded by the analyst and investor communities, our business partners and his colleagues. His deep understanding of our industry, and long-established working relationships within the finance organization will ensure a seamless transition.
Shares of Activision were last seen up about 1% at $47.03, with a consensus analyst price target of $70.81 and a 52-week range of $43.71 to $84.68.
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