Spotify’s CFO is out days after mass layoffs
Of all the layoffs happening at Spotify this week, this has to be the biggest. Chief financial officer Paul Vogel, who since 2020 has managed the company’s balance sheet as it expanded into podcasting and audiobooks, is leaving the company at the end of March 2024.
Spotify CEO Daniel Ek said the decision was made because Vogel didn’t have the experience needed to help the company both expand and meet market expectations. The company is starting the search for a successor.
“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...