Pandora's CEO steps down

Pandora cofounder and CEO Tim Westergren has stepped down, the company announced on Tuesday.

The board will begin searching for candidates to fill the position.

This news comes on the heels of a $US480 million investment from Sirius XM earlier this month, which when it closes will give the satellite-radio powerhouse 19% of Pandora, in addition to three board seats.

Westergren took over the CEO role last March, mostly to guide the company’s launch of its on-demand competitor to Spotify and Apple Music, which completed its rollout in April.

Developing…

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