Roku Inc. (ROKU) has made a press release announcing the stepping-down of Scott Rosenberg as the Senior Vice-President and General Manager of the Platform Business. Scott Rosenberg plans to step down from these positions sometime around the spring of 2022.
Roku Inc. (ROKU) stock kept falling and has plunged around 20% in the last five days. At the time of writing, the stock was down 8.71 points, trades at $180.26 (-4.49%), and has gone down by 45.97 points (-19.89%) in the last five days.
Rosenberg joined Roku in 2012 as the Vice President, advertising and business development. He was named the SVP and GM of Roku’s platform business in 2017, wherein he had to oversee both advertising and content and services.
Rosenberg also played an essential role in the company going public, that is, the creation of Roku’s IPO and led the growth of its Platform business.
“While Scott remains deeply invested in the company’s success, he’s ready for his next professional challenge and believes this is the right timeframe for him to make a change. I respect and fully support his decision. I look forward to working with Scott to ensure a smooth transition while maintaining our relentless focus on building the best TV streaming platform.”
said Anthony Wood, Roku Founder and Chief Executive Officer.
However, Scott Rosenberg will continue leading his teams until he departs. He has ensured his commitment to making a smooth transition and assistance with the recruitment process underway.
“Working at Roku these last nine years has been the most rewarding time of my career, without a close second. Deciding to leave was difficult, but made possible by my belief in the incredible bench strength of the Platform team and the company as a whole.”
said Scott Rosenberg.
Recently, Roku also partnered with Sharp to bring Sharp Roku TV models. The company also was the best-selling Smart TV OS for the second year in a row. It topped NPD’s Weekly Retail Tracking Service from January 3, 2021, to December 4, 2021.
Roku TV models range from 24-inch to 75-inch 4K HDR and are available from more than 15 TV OEMs in the United States, Canada, the United Kingdom, Mexico, and Brazil.
ROKU has a market capitalization of $24.959 billion and an average volume of 5 million. It has a one-year target estimate of $376.22, and the stock has peaked at $490.76 in the last 52 weeks. The stock has dipped to $180.49 as of now, which is the lowest for the stock at the same time.
The day range for the ROKU stock has been between $180.49 and $189.4652. The stock previously closed at $193.83 and opened on Friday morning at $189.46.
About Roku Inc.
Roku is an American publicly traded company and is a pioneer in streaming to the TV. Based in San Jose, California, it connects users to streaming content and enables content publishers to build and monetize large audiences. It manufactures a variety of digital media players for video streaming.