Roku Sinks After Saying CFO Plans to Step Down

(Bloomberg) -- Roku sank as much as 4.6% in extended trading after saying Chief Financial Officer Steve Louden plans to step down once he helps the company hire his successor.

Louden joined as CFO in 2015 and “played an important role in establishing Roku as a fast-growing public company,” the Los Gatos, California-based maker of streaming devices said in a statement. The stock has gained more than 350% this year and nearly 10-fold since its initial public offering in 2017.

Louden plans to return home to the Seattle area after assisting with the CFO transition, the company said.

Read more: Roku Built the Dominant Streaming Box. Now It’s Under Siege

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