• by Gavin O'Malley  @mp_gavin, January 2, 2019

Netflix just hired Spencer Neumann as its new CFO, the media giant announced Wednesday.

Neumann is replacing David Wells, who served as Netflix’s CFO from 2010 to August 2018.

Neumann is coming from Activision Blizzard, which just announced his termination. In a regulatory filing, the video-game holding company did not offer an explanation for the decision, but sources tell CNBC that it resulted from Neumann’s job search.

In a statement, Netflix CEO Reed Hastings said Neumann will help the company “provide amazing stories to people all over the world.”

Neumann had served as Activision Blizzard’s CFO since May 2017. Previously, he spent a number of years at The Walt Disney Company, ultimately serving as CFO-executive vice president of Global Guest Experience, Walt Disney Parks and Resorts, from 2012 until 2017.

In Neumann’s place, Activision Blizzard just reappointed Dennis Dukin as CFO. Dukin had served that same role at the "Call of Duty" publisher from March 2012 to May 2017.

Activision Blizzard stated that it terminated Neumann “for cause for violating his legal obligations to the company.”

Prior to his appointment as CFO, Wells had been with Netflix since 2004.

While other technology companies struggled in 2018, Netflix continued to thrive. For the year, the company’s stock was up 30% to $261.60.