Pandora Names New CFO: Naveen Chopra

Naveen Chopra
Courtesy Photo

Naveen Chopra

The new hire joins Pandora from TiVo.

Pandora Media today announced the appointment of Naveen Chopra as the Company’s chief financial officer, effective Feb. 28, 2017. The company’s previous CFO, Mike Herring, had announced he was stepping away from that role late last year and will continue as Pandora’s president.  

Prior to joining Pandora, Chopra, 43, served as the interim CEO and CFO at TiVo, a post he held from Jan. to Sept.  2016, among other roles at the company, which he first joined in 2003.

“After a thorough and thoughtful search process, we are thrilled to welcome Naveen aboard,” Pandora cofounder and CEO Tim Westergren said in a statement. “Naveen is a talented business leader whose deep knowledge and background in consumer-oriented technology companies make him the right choice as our new CFO. His impressive experience guiding financial strategy and execution at growing companies will serve Pandora well. I look forward to working closely with him as we continue to execute our strategy.”

“Pandora fundamentally changed the way we listen to music and continues to lead the way in reshaping the future of music for listeners, music makers and advertisers,” said Chopra. “It’s an exciting time to join the team and a unique opportunity to combine my passion for world-class consumer services and strategic and operational experience to help guide Pandora’s growth and deliver shareholder value.”

Chopra holds bachelor degrees in computer science and economics from Stanford University and an M.B.A. from the Stanford Graduate School of Business.

The announcement comes at a pivotal time for Pandora, which announced last month that it would be laying off 7 percent of its U.S. staff -- approximately 100-150 employees. In a call with analysts early in February, executives said the company expects to have between 6-9 million subscribers between its Plus (ad-free customer radio) and premium-interactive (i.e. streaming) service by the end of its first year of operation later in 2017 -- up from its most recent tally of 4.39 million. In the fourth quarter ended Dec. 31, 2016, Pandora posted a net loss of $90 million, or 79 cents per diluted share, on revenue of $313.3 million, as compared with a $19.4 million loss, or 9 cents per share, on revenue of $269 million. 

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