Spotify CFO Paul Vogel to Depart in March 2024
Spotify Technology announces the departure of Chief Financial Officer Paul Vogel on March 31, 2024. The music streaming giant initiates an external search to find a qualified candidate for this pivotal role. Founder and CEO Daniel Ek credits Vogel for guiding the company through financial evolution but emphasizes the need for a CFO with different experiences as Spotify enters a new phase.
In a recent announcement, Spotify Technology revealed that its Chief Financial Officer, Paul Vogel, will be leaving the company on March 31, 2024. The music streaming giant has initiated an external search to identify a suitable candidate to fill the crucial role.
Daniel Ek, the founder, chief executive officer, and chairman of the board of directors at Spotify, acknowledged the company's evolving financial strategy over the past two years. He expressed the need to align spending with market expectations while pursuing growth opportunities. Ek credited Vogel for providing steady guidance during the expansion of the business amid global pandemic challenges and economic uncertainties. However, Ek emphasized that as Spotify enters a new phase, a CFO with a different set of experiences is required.
During the interim period, Ben Kung, the Vice President of Financial Planning and Analysis, will take on expanded responsibilities to support the realignment of Spotify's financial leadership team.
Ek shared his pride in the company's progress, noting that they are on track to meet the goals outlined at their Investor Day. He expressed confidence in the ongoing efforts and stated that the recent actions taken by the company will contribute to accelerating their initiatives. Spotify anticipates appointing a strong financial leader as its next CFO, and Ek promised to provide more details on the search soon.
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