Patrick Spence has resigned as CEO and board member of US smart speaker maker and internet radio provider Sonos, effective today.
The board of directors has appointed Tom ConradAn independent member of the Board of Directors since 2017, he serves as Interim Chief Executive Officer, effective immediately.
Sonos said in an announcement on Monday (Jan. 13) that its board of directors has begun a search for its next CEO with the assistance of “a leading executive search firm” and is “committed to identifying a leader who can continue Sonos’ legacy of innovation.” “and drive profitable growth while delivering exceptional service to our customers.”
Spence’s departure from the company comes six months after its redesigned app was reportedly lacking functionality at launch.
In August, the company laid off 100 employees, or about 6% of its workforce.
Sonos said its leadership changes are “not related” to the company’s fiscal first quarter (calendar fourth quarter) results, which will be reported on February 6, 2025, and the company said it is “not providing any update at this time.”
In the third quarter (fiscal fourth quarter) of 2024 (the three months ended September), Sonos’ revenue was US$1.52 billiondropped 8% annual increase According to the company, this was “due to softening demand due to challenging market conditions and challenges posed by our recently launched apps.”
“On behalf of the Board, I would like to thank Patrick for his contributions as CEO,” Chairman Julius Genachowski said in commenting on Spence’s departure from the company.
“During his tenure, Patrick achieved groundbreaking success in wireless home audio and led the company’s expansion into premium audio for home theater, portable devices and headphones. We thank Patrick for his dedication to Sonos.
“Tom will be tasked with improving the core Sonos experience for customers while optimizing our business to drive innovation and financial performance.”
Julius Genachowski, Sonos Board of Directors
Genachowski added, “Tom will be tasked with improving the core Sonos experience for customers while optimizing our business to drive innovation and financial performance.
“With his deep product expertise and long-standing relationship with Sonos, Tom is well-suited to guide the company forward during this transition period, and the Board looks forward to working closely with him. We are excited about the opportunities ahead.”
“I am honored to serve in this role at such an important time for Sonos.”
Tom Conrad
“I am honored to serve in this role at such an important time for Sonos,” said Conrad.
“Nearly two decades ago, when I led the original initiative to integrate Pandora and Sonos, I first saw the magic that Sonos brings to the lives of millions of people every day.
“I’m excited to work with our team to restore Sonos’ reliability and user experience while bringing innovative new products to market. Together, we are committed to delivering exceptional experiences for our customers and delivering strong results for our shareholders.”global music business
