Pandora co-founder Tim Westergren on Tuesday stepped down as chief executive and from the board of directors, as the internet radio pioneer strives to win more listeners in the face of competition from Apple and Spotify. The departure was part of a major shake-up in Pandora’s top management, with president Mike Herring and chief marketing officer Nick Bartle also leaving the company. “Over the past several weeks, the board has taken a number of steps to refocus and reinforce Pandora,” board member Roger Faxon said in a statement announcing Westergren’s departure. Pandora is also selling Ticketfly, a ticketing company popular with independent rock venues, for $200 million to event management site Eventbrite. While substantial, the number had dropped from a year earlier as the market shifts away from free, advertising-backed sites and toward paid subscriptions for on-demand music.

Source: Hindustan Times June 28, 2017 03:45 UTC