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Pandora CEO Tim Westergren Departs
July 1,2017
|Techlife News
The co-founder and CEO of Pandora, under intensifying competitive pressure from Spotify and Apple Music, has relinquished his position and will step down from the company board as well.
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Westergren, who helped found the company 17 years ago, returned as CEO about 15 months ago with Pandora struggling to match the subscribers heading to rival services. He had also been CEO between 2002 and 2004.
After Westergren’s return as CEO in March, the company launched a new $10 a month on demand music service which lets users select the songs they want to hear, copying what Spotify and Apple Music already offers.
“Tim stepped in to be CEO at a critical time for the company and was quickly able to reset relations with the major labels, launch our on demand service, reconstitute the management team and refortify our balance sheet by securing an investment from Sirius XM, said board member Tim Leiweke. “We support Tim’s desire to identify a new CEO for Pandora’s next stage.”
But actions taken after Westergren’s return may have been too little too late.
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