Pandora CEO Westergren to Step Down
- CFO Chopra named interim chief while board seeks replacement
- Hirschhorn, former MTV and MySpace executive, joins the board
Tim Westergren
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Pandora Media Inc. founder Tim Westergren is stepping down as chief executive officer amid growing losses and discontent over the online radio company’s strategy to combat the rising popularity of on-demand services like Spotify.
Chief Financial Officer Naveen Chopra was named interim CEO while the board begins a search for a permanent replacement, Oakland, California-based Pandora said Tuesday in a statement. Pandora, which sold a stake to Sirius XM Holdings Inc. earlier this month, also announced other management changes and departures.