Roblox chief product officer Manuel Bronstein to depart at end of September

Roblox Corp (NYSE:RBLX), currently trading near $135 with a market capitalization of $94 billion, announced that Chief Product Officer Manuel Bronstein will step down from his role, with his employment expected to end on September 30. The company, which has seen its stock surge nearly 200% over the past year, entered into a Separation and Transition Agreement with Bronstein on September 15, according to a statement released through a Securities and Exchange Commission filing. According to InvestingPro analysis, Roblox is currently trading above its Fair Value, despite showing strong revenue growth of 27% in the last twelve months.

Bronstein had previously notified the company of his intent to resign to pursue personal interests and entrepreneurial opportunities. Until his separation date, Bronstein will remain a full-time employee, continuing to serve as Chief Product Officer and receiving his regular annual base salary. He will also continue to vest in outstanding equity awards and remain eligible for severance and other benefits as outlined in his existing change in control severance agreement, effective since December 2021. Bronstein will participate in the company’s benefit plans and programs through the end of his employment.

Following his departure as an officer, Bronstein will provide advisory transitional services to Roblox as requested by the Chief Executive Officer, with this advisory period lasting up to April 13, 2026. For these services, Bronstein will receive $61,250 per month, and his outstanding equity awards will continue to vest according to their terms during this period.

The Separation and Transition Agreement includes a general release and waiver of claims in favor of Roblox, as well as confidentiality and cooperation provisions. The company stated that the full text of the agreement will be filed as an exhibit to its next periodic report.

This information is based on a press release statement included in Roblox’s recent SEC filing.

In other recent news, Roblox Corp . has garnered significant attention from various investment firms following its annual Developer Conference. BMO Capital maintained its Outperform rating on the company, highlighting a notable 8.5% increase in developer revenue share, the first such increase in eight years. Piper Sandler also reiterated its Overweight rating, emphasizing the introduction of Roblox’s new Moments short-form video discovery tool as a key development. Oppenheimer expressed an "incrementally positive" outlook on Roblox’s long-term growth prospects in interactive entertainment and advertising, maintaining its Outperform rating. BofA Securities raised its price target for Roblox to $171 from $159, maintaining a Buy rating after CEO Dave Baszucki announced an increase in the company’s DevEx rate to approximately 23.4%. Needham reiterated its Buy rating, noting the potential of the Moments feature to transform engagement and in-app purchases, with added advertising benefits over time. These developments indicate a continued positive sentiment from analysts regarding Roblox’s future growth and innovation.

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