Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
AP Photo/Richard Drew, file
Pandora co-founder and CEO Tim Westergren plans to step down from the job, according to a report from Recode, which cited anonymous sources. Westergren will likely remain until the online radio streaming company finds a replacement, Recode said.
- Westergren took over as Pandora CEO last year from then-chief Brian McAndrews. Westergren was CEO of Pandora from 2002 to 2004 as well. A Pandora representative declined to comment to Axios on the report.
- Earlier this month, SiriusXM agreed to make a $480 million minority investment into Pandora and will get three seats on Pandora's board of directors, including chairman. The deal effectively killed a $150 million investment by KKR into Pandora, which the radio company decided to back out of (though it paid KKR $22.5 million as a break-up fee).
- Pandora has struggled to keep up with the rise of music streaming services like Spotify and Apple Music.