Roku hires Stitch Fix's Dan Jedda as finance chief (updated)
08/03/2023 16:22
(Adds details on company's shares in paragraph 4)
March 8 (Reuters) - Streaming platform Roku Inc ROKU.O
said on Wednesday it has hired former finance chief of
personalized styling service company Stitch Fix Inc SFIX.O Dan
Jedda as its chief financial officer.
Jedda, who has spent 15 years in leadership roles at
Amazon.com Inc AMZN.O , will start in his new role on May 1 and
will succeed Steve Louden.
Roku had in its latest earnings report said it will cut
costs while forecasting better-than-expected quarterly revenue
on higher ad spends on the platform.
The company's shares, which were down 1% on Wednesday, have
gained more than 50% so far this year as investors backed its
plans to trim costs, improve ad income and turn a profit in
2024.
Jedda's departure from Stitch Fix, which was announced by
the company on Tuesday, comes months after the exit of its chief
executive amid workforce cuts.
Stitch Fix also missed estimates for its second-quarter
results and lowered its full-year revenue forecast, signaling
waning interest for its curated apparel boxes.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Arun
Koyyur)
((yuvraj.malik@thomsonreuters.com;))