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Hulu officially appoints Mike Hopkins as its new CEO

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hulu plus 1020 stock
hulu plus 1020 stock

Hulu has officially confirmed that Mike Hopkins will take over as the company's new CEO, effective immediately. This comes after a CEO search that's gone on for many months — former CEO Jason Kilar left back in the first quarter of 2013. Hopkins has served on Hulu's board since 2011 and also served as the president of distribution for Fox Networks Group. In an email to Hulu's employees (which the company posted on its blog), Hopkins says that he's "really excited about my new role" and praises the team for keeping the Hulu business together "through all the recent uncertainty." He said that the company "continued to deliver on every key performance metric" and called 2013 "one of the strongest years Hulu has ever seen." The proof appears to be in the numbers there — Hopkins says the company expects close to a billion dollars in revenue for the year.

Rumors began circulating last week that Hopkins would take over as CEO, and his appointment ends a somewhat rudderless period of time under acting CEO Andy Forssell (who Hulu said was now leaving the company). The company spend months looking for a buyer before ultimately getting an infusion of cash from Hulu's owners. Potential suitors included Yahoo and DirecTV, among others, but now with more cash and a new leader we'll see if the site can continue to grow its userbase.