Spotify Parts Ways With CFO

• Spotify Technology S.A. announced that its Chief Financial Officer, Paul Vogel will be leaving the company, effective March 31, 2024. The company has launched an external search for his successor. In the interim, Ben Kung, Vice President of Financial Planning and Analysis, will take on expanded responsibilities to support the company’s realignment of its financial leadership team.

In a statement, Daniel Ek, Spotify Founder, CEO & Chairman of the Board of Directors, said, “Spotify has embarked on an evolution over the last two years to bring our spending more in line with market expectations while also funding the significant growth opportunities we continue to identify. I’ve talked a lot with Paul about the need to balance these two objectives carefully. Over time, we’ve come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences. As a result, we’ve decided to part ways, but I am very appreciative of the steady hand Paul has provided in supporting the expansion of our business through a global pandemic and unprecedented economic uncertainty.”

Ek continued, “As we initiate the search for a new leader, we do so from a position of strength. I am enormously proud of the strides we’ve made as a company. We are on track to deliver against the goals we outlined at our Investor Day and our recent actions will help us accelerate these efforts. We look forward to tapping a strong financial leader as our next CFO and I will share more details soon.”