Scoop: Astronomer execs on leave after viral Coldplay concert scandal
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Astronomer CEO Andy Byron and chief people officer Kristin Cabot have been put on leave pending an investigation, per a source familiar with the situation, as their employer has finally broken its own silence.
- Astronomer co-founder and chief product officer Pete DeJoy is currently serving as interim CEO, the company announced late Friday.
Why it matters: The pair went viral for canoodling at a Coldplay concert this week, thrusting the software startup into the spotlight and causing great damage to its corporate reputation.
- The company officially issued a statement Friday more than 24 hours after the story exploded, due in part to Byron's slow resignation and exit package negotiations, another source told Axios.
What they're saying: "Astronomer is committed to the values and culture that have guided us since our founding," the statement on X read.
- "Our leaders are expected to set the standard in both conduct and accountability. The Board of Directors has initiated a formal investigation into this matter and we will have additional details to share very shortly," it said.
- "Alyssa Stoddard was not at the event and no other employees were in the video. Andy Byron has not put out any statement, reports saying otherwise are all incorrect."
Between the lines: The delay created space for spoof accounts, phony statements and memes to own the narrative.
- Former employees have also claimed Byron is a "toxic" leader.
By the numbers: In the past 24 hours, more than 22,000 news articles were written about Astronomer and roughly 9,000 were written about Byron, per Muck Rack data.
- More than 15 million people read about the scandal, Memo found, noting average readership on the topic is on par with the Diddy trial, Musk-Trump feud and Pope Francis' death.
- Plus, searches for Astronomer skyrocketed far beyond any previous levels for the company, per Google analytics.
The big picture: Many communication professionals believe the corporate response was too little, too late.
- "In situations like this, you have to distinguish between the company's response and the CEO's personal response," Andrew Koneschusky, founder and CEO of Beltway Advisors, told Axios.
- "Their reputations may be linked, but their interests may diverge. The company needs to address whether any policies were potentially broken or [if] conduct needs to be investigated. Separately, the CEO can choose to address the personal implications and ramifications of what occurred. But don't conflate the two," he added.
Details: Astronomer is a software startup backed by Salesforce Ventures, Insight Partners and Bain Venture Capital — which led its Series D fundraising round in May.
- Byron joined the company in 2023 and is a member of its board.
Editor's note: This story has been updated throughout.
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