Real Money Stock of the Day Roku announced that the CFO, Steve Louden, would be stepping down after five years with the company. He will leave next year. However, he plans to stay on to assist with its transition to a new CFO.
Louden, 47, has been largely credited with not only the Los Gatos, California-based group's rapid growth since is 2017 IPO, but also his ability to argue the company's complex financial and business metrics to investors in a market that is seeing intense competition from much larger rivals including Amazon, Apple and Disney.
“Steve has been a valuable member of our leadership team. He managed our finances through our transition to a public company and rapid expansion into new areas of streaming,” said CEO Anthony Wood said in a statement. “I look forward to working with Steve during the transition as we hire our next CFO and continue to execute our strategy and build value for our customers, employees and shareholders.”
"That one was, it was hard. I mean, I've got to find out like what's the commute really bad is that what it was? If it was anything other than the commute, then no. But I can't just call the guy a liar. I don't know," Cramer responded when asked on TheStreet's daily live show whether or not the CFO stepping down should be worrying for investors.
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