CEO Daniel Ek revealed the secret, stating that he needed a CFO with diverse skills to take the company to the next level. The search for Vogel’s successor continues, leaving the music streaming giant at a crucial crossroads.
While Spotify has tightened its belt and adjusted costs to meet market expectations, recent layoffs have negatively impacted the company, affecting 17% of its workforce. The company will need to find a balance between expansion and financial responsibility.
Adding to the intrigue, SEC filings in the days before the firing announcement revealed that Vogel had exercised and sold numerous stock options. Was this a strategic decision or pure coincidence?
Source: Ferra
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