Spotify CFO Paul Vogel to step down next year


FILE PHOTO: Small figurines are seen in front of displayed Spotify logo in this illustration taken February 11, 2022. REUTERS/Dado Ruvic/Ilustration/File Photo

(Reuters) - Spotify Technology said on Thursday Chief Financial Officer Paul Vogel will step down from his role next year March end after an eight-year long stint at the music streaming company.

Vogel's departure follows a rough week at the company. Spotify has said it would lay off around 1,500 employees, or 17% of its workforce, after letting 600 of its staff go in January, and 200 more in June.

Shares of the company fell 2.3% to $191.35 in extended trading.

The company said on Thursday it has launched an external search for a successor, and in the interim Ben Kung, vice president of financial planning and analysis, would take on additional responsibilities.

(This story has been corrected to clarify that Ben Kung will be taking on additional responsibility, in paragraph 4)

(Reporting by Roshia Sabu and Arunima Kumar in Bengaluru; Editing by Shinjini Ganguli)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Taiwan electronics firms plan more Texas investments, industry body says
UN: Fishing trawlers, not sabotage, behind most undersea cable damage
Digital Ministry to launch monitoring system to combat sale of personal data�on�dark�web
Huawei launches tri-folding Mate XT Ultimate Design smartphone in Malaysia, pre-orders priced at RM14,999
With an evil empire’s power comes great responsibility
Musk launches ‘scary smart’ AI chatbot
Capgemini sales fall less than expected, but soft outlook knocks shares
DeepSeek in running to power China weather agency’s forecasts
OpenAI weighs special voting rights to guard against hostile takeovers, FT reports
Yahoo News signs up influencers with promise of shared advertising sales

Others Also Read