3-7-2013
Pandora announced today that it will begin a process to identify a successor to the company?s Chairman, Chief Executive Officer and President, Joseph Kennedy. Kennedy, who has led the company since July 2004, will stay onboard until a new CEO is found. He told investors and employees last night, "I love this business which I helped create. My head is telling me I need to get to a recharging station. We've turned the corner on mobile monetization. This year is a good year to hand the baton to someone who can take the company to the next level."
In a prepared statement, Kennedy said, ?As I near the start of my tenth year at the helm of Pandora, I am incredibly proud of the team and what we have accomplished in redefining radio. As part of our Board discussions of the road that lies ahead, I reached the conclusion and advised the Board that the time is right to begin a process to identify my successor. There is a tremendous market opportunity ahead and I look forward to continuing to work with all the great people at Pandora to keep driving the business forward.?
(3/8/2013 12:34:05 PM)
It's hard to keep your job if you have a business model that increases your losses as the business grows.
There is no business model for Pandora, it was like many of the first internet starts ups, lots of sizzle, but no bacon
It's a good thing when they say "No Mas", right? Where are all the bitter ex-radio hacks that told me Pandora has a better stock than CC and CBS? No business plan, low barrier of entry, bleeding money - now that's a great place to put your money.
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