Hot on the heels of a relatively strong quarter for the streaming music service, Pandora has announced that its long-time CEO and President, Joe Kennedy, will be stepping down. In a statement this afternoon, Pandora said that he will “continue in his current role until his successor is named.”
Kennedy, who has been at the helm of the streaming music service since July 2004 and helped take the company public, and led it to a platform that now has over 67 million monthly active listeners. Pandora today has over 8 percent of total U.S. radio listening market share.
“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,” Kennedy said in a statement. “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.”
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