Pandora CEO Joseph Kennedy is stepping down.
“As I approach the start of my 10th year, my head is telling me it’s time to get to a recharging station sooner rather than later,” Kennedy said during an earnings call Thursday.
Pandora has had its share of challenges in recent years. Kudos to Kennedy for knowing when to step aside. Like recently fired Groupon CEO Andrew Mason – though without the Millennial quirkiness, and in considerably less detail -- Kennedy seems to be acknowledging that new leadership is needed to keep his company healthy.
Here’s Kennedy discussing his resignation in a statement:
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.
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