Pandora announces SXSW shows, loses CEO
Field Report at BV-SXSW 2012 (more by Amanda Hatfield)
One business leader is prioritizing his mental health over a surging career.
Joseph Kennedy, CEO of Pandora, an Internet radio site, announced Thursday that he's stepping down, even as the company posted a 54 percent jump in revenue. It may seem odd for a successful executive to jump ship at the height of his company's success, but in explaining his decision, Kennedy said he had something more important to attend to.
"As I approach the start of my tenth year, my head is telling me it is time to get to a recharging station sooner rather than later," Kennedy said in an earnings call with analysts, according to USA Today.
It may come as no surprise that Kennedy needs a break. He helped Pandora navigate a series of obstacles since becoming a public company in 2011, including lagging advertisement revenue and issues with royalty costs, according to the Wall Street Journal. What's more surprising is that he actually decided to take that break. [Huffington Post]
On a lighter note for Pandora, they'll be in Austin this week for SXSW and have a number of day and night shows from Tuesday (3/12) through Friday (3/15) at Antone's. Artists playing their shows include Talib Kweli, Angel Haze, Eagles of Death Metal, Richard Thompson Electric Trio, The Gaslamp Killer, Dead Prez, Guards, Surfer Blood, Field Report, Akron/Family, Anamanaguchi, Dawes, and more. You can browse their entire lineup and schedule at Pandora.com/SXSW.