Thought and prayers
this post was submitted on 08 Dec 2023
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Technology
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This is the best summary I could come up with:
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.
“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.
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 said in a statement published Thursday evening.
Much of its original podcasting operation has shuttered, including the cancellation this week of its two most prestigious shows, Heavyweight and Stolen.
Vogel is a longtime Spotify employee, joining the company in 2016 as the head of FP&A, treasury, and investor relations before being promoted to CFO in 2020.
Before the news broke on Thursday, an SEC filing was posted that showed Vogel exercised 47,859 stock options on Tuesday and sold those shares at one of the highest prices Spotify has seen in two years.
The original article contains 395 words, the summary contains 186 words. Saved 53%. I'm a bot and I'm open source!
Exiting with a cool ~$9m. Not too shabby.
And since he's been there since before the IPO, he's probably done pretty well for himself, regardless.
Oh no senpai please don't fire me and give me a bunch of money!
Nothing worse than being told not to work anymore with millions in the bank.
hundreds of millions.
My buddy worked there, didn't make a year, but if he did he would have been a millionaire once those stock options matured.
He was just a software engineer there.