Roku CFO Steve Louden to step down as company flies high
The company's stock is up 330 percent on the year
Roku Chief Financial Officer Steve Louden will leave the company after nearly five years.
The streaming platform, whose stock is up 330 percent on the year and 351 percent year-to-date, announced Monday that Louden will depart after helping the company find his replacement. He joined Roku in 2015 and played a key role in its initial public offering.
Louden will relocate to Seattle with his family after the shift, according to a the company.
“Steve has been a valuable member of our leadership team,” Roku Founder and Chief Executive Officer Anthony Wood, said in a prepared statement. “He managed our finances through our transition to a public company and rapid expansion into new areas of streaming. I look forward to working with Steve as we hire our next CFO and continue to execute our strategy and build value for our customers, employees and shareholders.”
In its second-quarter earnings report, Roku past sed 30 million active accounts, with an average per-user revenue of $21. Total revenue growth surged 60 percent year-over-year.
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While the company has seen recent success, it faces stiff competition from other big-name streaming add-ons, which let users watch content from streaming platforms like Netflix.
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Roku streaming players cost $29.99 compared to Amazon's Fire Stick at around $24.99 and Facebook's Portal TV at $149.
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