Spotify has announced that Paul Vogel, the Chief Financial Officer, will be stepping down from the company, effective March 31, 2024. During the interim, Ben Kung, Head of Financial Planning, will be appointed as the temporary replacement, while the search for a new CFO is underway.
Interestingly, this announcement comes shortly after Spotify announced additional layoffs, affecting approximately 1,500 employees, which accounts for about 17% of the workforce.
Daniel Ek, CEO of Spotify, stated that the company is entering a new era and is in need of a CFO with diverse experience, particularly in maintaining a balanced expenditure that aligns with investor expectations, while also investing in the company’s growth.
TLDR: Spotify’s CFO, Paul Vogel, will be leaving the company, with Ben Kung temporarily taking over. The announcement comes after layoffs were also announced, affecting 17% of the workforce. Spotify is seeking a CFO with the right experience to manage spending and drive company growth.
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