Roku hires Stitch Fix's Dan Jedda as finance chief

FILE PHOTO A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company's IPO at the Nasdaq Market in New York, U.S., September 28, 2017. REUTERS/Brendan McDermid/File Photo

(Reuters) - Streaming service Roku Inc said on Wednesday it has hired former finance chief of personalized styling service company Stitch Fix Inc Dan Jedda as its chief financial officer.

Jedda, who has spent 15 years in leadership roles at Inc, will start in his new role on May 1 and will succeed Steve Loudon.

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.

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)

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