Pandora Chairman To Exit
Pandora Chairman, Chief Executive Officer and President Joseph Kennedy will be leaving the company he has led since July 2004.
Pandora has been under fire in recent months for seeking to pay a lower royalty rate to songwriters, despite soaring earnings. The radio service had total revenue of $427.1 million and mobile revenue of $255.9 million in fiscal 2013. According to the company, it has over 67 million monthly active listeners, and accounts for over 8% of total U.S. radio listening.
Tim Westergren, Pandora Founder and Chief Strategy Officer, will remain onboard.
Sarah Skates has been a writer and editor in the music business since 2004. She is a longtime contributor to MusicRow.
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