Pandora announced Monday that it has appointed Roger Lynch as its new CEO and president.
Lynch comes to the internet-radio giant from Dish’s Sling TV, where he was formerly the founding CEO. He will also join Pandora’s board of directors.
Pandora’s stock was up over 6% in after-hours trading on the news.
Pandora’s cofounder and former CEO, Tim Westergren, stepped down in June after the company received a $480 million investment from Sirius XM weeks earlier (in a move to remain independent).
Westergren had taken over as CEO last March to guide the launch of Pandora’s on-demand competitor to Spotify and Apple Music, Pandora Premium.
But Sirius reportedly had little interest in the new direction. With Westergren out, Pandora appears to have shifted its focus away from the on-demand service, and away from potential international expansion. The company decided to shut down its service in New Zealand and Australia last month to focus on just the US.
Pandora’s immediate stock spike seems to show confidence in Lynch’s experience in running a streaming company that is charting new territory, while facing tough margins.
“I cannot imagine a more important and exciting time to join Pandora,” Lynch said in a statement. “With a massive, diverse and highly engaged audience, a market-leading digital advertising business, a best-in-class product portfolio and an extremely passionate and talented group of people, Pandora is well-positioned to capture an even greater market opportunity.”
The company’s current chairman, Roger Faxon, announced Lynch’s appointment with the following:
“After a thorough and thoughtful search process, we are thrilled to have Roger join us as CEO and a member of our board. Roger brings a stellar leadership reputation, a wealth of consumer experience, and a lifelong passion for music to Pandora – all of which are critical ingredients in the continued evolution of our company.”
This piece contains additional reporting from Nathan McAlone.