Netflix has hired Spencer Neumann as its new chief financial officer, recruiting the veteran executive from gaming company Activision Blizzard.

The Daily Telegraph understands Mr Neumann will be joining the streaming provider this year.

News of the hire, which was first reported by Reuters, comes after Activision Blizzard yesterday released a regulatory filing that said it was planning to fire Mr Neumann for an unspecified reason "unrelated to the company’s financial reporting or disclosure controls and procedures".

The company said he had been placed on paid leave "pending an opportunity for him to demonstrate why cause does not exist to terminate his employment or why termination of his employment is not otherwise justified".

Mr Neumann did not immediately respond to requests to comment.

Netflix has been searching for a new chief financial officer since August, when David Wells announced he was leaving the company after 14 years.

He held the CFO post for eight years prior to stepping down, saying at the time that, given "Netflix’s strong financial position and exciting growth plans, this is the right time for us to help identify the next financial leader for the company".

In its most recent results, Netflix revealed it had grown subscriber numbers to 137 million, and posted a 34pc rise in sales in the third quarter, sending shares as much as 15pc higher.