Pandora's CEO's surprise exit trims gain after results
Photo credit: Getty Images | A banner for Pandora Media Inc., the online-radio company, hangs in front of the New York Stock Exchange walk on its first day of trading as a public company in 2011. Pandora pioneered Internet radio, growing under CEO Joe Kennedy to 67 million listeners, or 70 percent all U.S. users. (June 15, 2011)
Joe Kennedy resigned unexpectedly as chairman and chief executive of Pandora Media Inc., the dominant Internet radio service, after nine years at the helm.
Kennedy, 53, made the decision after discussions with the board over the company's future, he said in a statement Thursday. The move took investors by surprise, as the shares gave back some of the 26 percent after-hours surge that had followed...
