Netflix has tapped longtime finance executive Ken Barker as principal accounting officer, assuming the obligations from CFO Spencer Neumann.
Netflix revealed the selecting of Barker in an SEC submitting Monday. Barker starts at Netflix on June 27, reporting to Neumann.
”Mr. Barker is assuming the purpose of Principal Accounting Officer from Spencer Neumann, who proceeds to serve as the Company’s Main Financial Officer and Principal Economic Officer,” the Netflix submitting suggests.
Barker, 55, will come from online games business Electronic Arts, most recently as senior VP finance given that August 2021, and as SVP and chief accounting officer from June 2003 to August 2021. Prior to signing up for EA, Mr. Barker worked at Sunlight Microsystems as corporate controller and at Deloitte as an audit companion.
Barker joins Netflix as the company has entered into a new — and unfamiliar — period of time of expense-cutting and belt-tightening. As part of endeavours to rein in costs, the business last month laid off 150 workers, primarily in the U.S., coming following a trimmed 25 positions in its marketing team.
Netflix amazed traders by reporting a internet reduction of 200,000 subscribers for the initially quarter, and projected dropping a different 2 million in Q2. On the streamer’s Q1 earnings interview in April, Neumann reported the firm would be “responsible in phrases of how we handle the business” and claimed “we’re pulling back on some of our commit progress across both content and non-written content devote, but even now expanding our invest and still investing aggressively into that extensive-time period opportunity.”
Per Netflix’s submitting, Barker will acquire an yearly base wage of $2.4 million and a $600,000 once-a-year stock alternative allowance under Netflix’s stock option plan.
Barker serves on the board of directors of non-gain organization AbilityPath and on the accounting advisory board for the University of Notre Dame. He retains a bachelor’s degree in accounting from Notre Dame.
Neumann, who was beforehand CFO of video games business Activision Blizzard and a former Disney finance exec, was named Netlfix’s CFO in January 2019.
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