Seeking Alpha

Pandora names online ad vet new CEO, chairman, shares +2.9% AH

  • Brian McAndrews, once the CEO of online ad agency aQuantive (acquired by Microsoft for $6B), has been named Pandora's (P) new CEO and chairman, effective immediately. (PR)
  • McAndrews replaces Joe Kennedy, who has been CEO for 9 years and announced plans to step down in March. Following the Microsoft acquisition, McAndrews served as the head of Microsoft's Advertiser & Publisher Solutions group. Most recently, he was a partner at a VC firm.
  • Pandora was generally expected to hire a CEO with a strong ad sales background, as the company works to improve mobile monetization (it's already making some progress here) and courts traditional radio advertisers (both local and national) amid competition from the likes of Apple and Spotify. Investors seem pleased with Pandora's choice.
  • Earlier: Pandora higher as Apple falls
Comments (3)
  • dgulick
    , contributor
    Comments (1493) | Send Message
     
    Market likes the choice. P, after 17% climb in last 5 trading days jump another +8% A.H. Nice vote of confidence.
    11 Sep 2013, 05:42 PM Reply Like
  • Glenn Abrett
    , contributor
    Comments (1569) | Send Message
     
    Sometimes its better to be lucky than good. Holding many P options of various strikes and expirations -- basically betting on the pattern -- apple announces IRadio something or other, stock falls, IRadio shown not to be much threat, stock rises. Repeat and collect. Maybe that was skill. But this new CEO thing at exactly the right moment -- dumb luck. Love it.
    11 Sep 2013, 10:47 PM Reply Like
  • dgulick
    , contributor
    Comments (1493) | Send Message
     
    *Always* better to be lucky than good! But don't sell yourself short (da-dun-dun, thank you, I'll be here all week...).

     

    Interesting interview on AllThingsD:
    http://dthin.gs/13TwMWr
    "On the royalty side, I have a lot to learn in that area. Obviously, it’s an important component of our cost structure, but there’s no immediate steps to be taken on that, other than for me to learn a lot."
    Lol.
    12 Sep 2013, 08:06 PM Reply Like
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