Rich Sullivan, who held top finance roles at Twitter, STX Entertainment and DreamWorks Animation, was named chief financial officer of saving and investing app Acorns as it preps for an IPO.
The app – full name Acorns Grow – has more than four million subscribers and has helped them invest more than $9.6 billion, among the the largest subscription services in U.S. consumer finance.
Sullivan joins Acorns from Twitter, where he led corporate finance and financial planning and analysis. Previously, he held executive positions at STX Entertainment and DreamWorks Animation, where he served as deputy CFO. He’s also held various roles at AT&T.
“Rich brings a unique combination of expertise, vision, and commitment to mission,” said Noah Kerner, CEO of Acorns. “Our next phase of growth as a company will only be fueled by his leadership.”
Sullivan called Acorns a company “at the cross section of technology, financial services, and social responsibility.
The app – full name Acorns Grow – has more than four million subscribers and has helped them invest more than $9.6 billion, among the the largest subscription services in U.S. consumer finance.
Sullivan joins Acorns from Twitter, where he led corporate finance and financial planning and analysis. Previously, he held executive positions at STX Entertainment and DreamWorks Animation, where he served as deputy CFO. He’s also held various roles at AT&T.
“Rich brings a unique combination of expertise, vision, and commitment to mission,” said Noah Kerner, CEO of Acorns. “Our next phase of growth as a company will only be fueled by his leadership.”
Sullivan called Acorns a company “at the cross section of technology, financial services, and social responsibility.
- 8/11/2021
- by Jill Goldsmith
- Deadline Film + TV
Paul Allen, whose $500 million investment a dozen years ago was instrumental in the founding of DreamWorks SKG, said Monday that he will sell off a significant portion of his investment in the company's animation studio spinoff and resign his board seat.
The multibillionaire co-founder of Microsoft will sell $150 million worth of DreamWorks Animation stock back to the company, and he will sell an additional 10 million shares to the public in a secondary offering underwritten by Goldman Sachs and Bear Stearns.
The sales will leave Allen with 6 million-7 million shares of DWA, or about 7% of the company, below the threshold needed for him to retain a seat on the board of directors, a spokesman said, citing an agreement struck when DWA went public three years ago.
Allen's resignation will leave DWA with 10 board members, and the company hasn't decided whether it will soon add to it, head of investor relations Rich Sullivan said.
The multibillionaire co-founder of Microsoft will sell $150 million worth of DreamWorks Animation stock back to the company, and he will sell an additional 10 million shares to the public in a secondary offering underwritten by Goldman Sachs and Bear Stearns.
The sales will leave Allen with 6 million-7 million shares of DWA, or about 7% of the company, below the threshold needed for him to retain a seat on the board of directors, a spokesman said, citing an agreement struck when DWA went public three years ago.
Allen's resignation will leave DWA with 10 board members, and the company hasn't decided whether it will soon add to it, head of investor relations Rich Sullivan said.
Paul Allen, whose $500 million investment a dozen years ago was instrumental in the founding of DreamWorks SKG, said Monday that he will sell off a significant portion of his investment in the company's animation studio spinoff and resign his board seat.
The multibillionaire co-founder of Microsoft will sell $150 million worth of DreamWorks Animation stock back to the company, and he will sell an additional 10 million shares to the public in a secondary offering underwritten by Goldman Sachs and Bear Stearns.
The sales will leave Allen with 6 million-7 million shares of DWA, or about 7% of the company, below the threshold needed for him to retain a seat on the board of directors, a spokesman said, citing an agreement struck when DWA went public three years ago.
Allen's resignation will leave DWA with 10 board members, and the company hasn't decided whether it will soon add to it, head of investor relations Rich Sullivan said.
The multibillionaire co-founder of Microsoft will sell $150 million worth of DreamWorks Animation stock back to the company, and he will sell an additional 10 million shares to the public in a secondary offering underwritten by Goldman Sachs and Bear Stearns.
The sales will leave Allen with 6 million-7 million shares of DWA, or about 7% of the company, below the threshold needed for him to retain a seat on the board of directors, a spokesman said, citing an agreement struck when DWA went public three years ago.
Allen's resignation will leave DWA with 10 board members, and the company hasn't decided whether it will soon add to it, head of investor relations Rich Sullivan said.
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