Netflix Chief Accounting Officer Departs After Three Months

A Giant and one of the best streaming platforms, Netflix is on the hunt for its new Chief Accounting Officer as the previous one named Ken Barker tendered his resignation on 22nd September and will discontinue his work from 7th October 2022.

But the question is why did the extremely talented Ken Barker, resign from the post just three months after he arrived? 

Barker’s resignation was his personal decision and is not the result of any disagreement with the company. Also, there were no conflicts or matters relating to the company’s financials, operations, policies, or practice at all. 

Hence, it’s all about Ken Barker’s personal life because of which he took this decision. 

Who’s handling the accounts department recently? 

Now currently as the search is continued for a suitable and permanent CAO for Netflix, so until then the Chief Financial Officer of Netflix named Spencer Neumann will handle the company’s accounting department. 

The principal accounting officer of any publicly traded company plays a very important role and handles all the accounting and financial ups and downs.

More About Ken Barker and Netflix!

Barker joined the giant Netflix last June after resigning from 19 years job at Electronic Arts. Before EA, he worked in a company named Sun Microsystems and Deloitte & Touche. 

In Netflix’s 25 years of history, it’s the first time when it is going through one of the most challenging periods. Due to this problem, the company’s financial status was badly hindered and its stock also tumbled more than 70 % after shocking subscriber losses. After two disappointing quarters, the company has laid off many workers and trimmed its expenses in an effort to right the ship.

But maybe the upcoming third and fourth quarters will bring some encouraging returns as the sequels of two high-profile movies Knives Out and The Crown, are going to release soon. 

Also there’s a piece of good news for the subscribers as Netflix has reprised its earlier strategy and will soon introduce a cheaper, ad-supported subscription tier that will entertain you more! 

So, if you have not taken a Netflix subscription yet, then go and take it, or else you will miss out on many upcoming entertaining series and movies! Also, stay in touch to get more updates. 

Read More:


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *