: Netflix chief accounting officer gives up $2.4 million position after just 4 months on the job

by | Sep 23, 2022 | Stock Market

Netflix Inc. is seeking a new chief accounting officer after its current one quit the role after less than four months. The streaming giant
NFLX,
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said in a regulatory filing Friday that Ken Barker has submitted his resignation effective Oct. 7. Barker, 55, joined the company on June 27 from Electronic Arts Inc.
EA,
-2.28%,
 where he was senior vice president finance, the company disclosed in a June filing with the Securities and Exchange Commission.

Netflix stressed that the move is a personal decision and is “not the result of any disagreement with the company on any matter relating to the company’s financials, operations, policies, or practices.” The company named Chief Financial Officer Spencer Neumann as principal accounting officer while it conducts a search for a replacement for Barker. Prior to his role at Electronic Arts, Barker was at Sun Microsystems Inc. as vice president, corporate controller, and served as an audit partner at Deloitte & Touche LLP. His base salary at Netflix was $2.4 million with a $600,000 annual stock option allowance, according to the June filing. Read now: ‘Derry Girls’ and more: Here’s everything coming to Netflix in October 2022, and what’s leaving The news comes as Netflix gears up for the addition of a new ad-supported streaming service tier, a move that came after disappointing subscriber news early in the year amid heightened competition from new streamers, notably Walt Disney Co.’s
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Disney+ service. In April, the company stunned investors with the its first loss of subscribers since the service was in its infancy and executives m …

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