Pandora co-founder Tim Westergren returns as CEO
NEW YORK (AP) — Pandora, which is facing increasing competition from Apple Music, Spotify and other music streaming services, says it named co-founder Tim Westergren as CEO.
Westergren is replacing Brian McAndrews, who is leaving the company, Pandora said. McAndrews has been CEO for less than three years.
Shares of Pandora Media Inc. fell about 9 percent to $9.94 in morning trading Monday.
Westergren co-founded the Internet radio company 16 years ago. He previously served as CEO of Pandora from 2002 to 2004.