Pandora Names New CEO
Struggling streaming player Pandora has named its next CEO, Roger Lynch.
“I cannot imagine a more important and exciting time to join Pandora,” said Lynch.
“With a massive, diverse and highly engaged audience, a market-leading digital advertising business, a best-in-class product portfolio and an extremely passionate and talented group of people, Pandora is well-positioned to capture an even greater market opportunity.”
“As a lifelong musician and exuberant music fan, this is the perfect opportunity to combine my industry experience with my love for music. I look forward to working with this great team, having a lot of fun, and leading Pandora through its next exciting phase.”
His appointment comes after the company’s previous CEO, Tim Westergren, stepped down after 17 years at the helm of the company in late-June.
Having curtailed the company’s international ambitions and closed down their Australian offering earlier this year, Pandora now faces an uphill battle against Spotify and Apple Music.
In the face of these setbacks, Snap Inc member Michael Lynton is also coming on-board.
According to Pandora’s Tim Leiweke, “Michael is a seasoned executive with strong business acumen and a long track record of leading public companies.”
“He brings critical skills to our Board and will lend valuable counsel as we focus on driving meaningful, long-term value for our shareholders and capturing an increasing share of the music listening audience.”