Pandora this morning (April 20) announced the election of former AEG CEO Tim Leiweke and the nomination of Roger Faxon -- former CEO of EMI Music Group prior to that label’s sale to Universal Music Group -- to the company’s board of directors. The move brings two well-known executives from the "traditional" music industry into a powerful advisory role within the growing digital streaming business.
Currently, Faxon heads investment and consulting firm A&R Investments, and serves on the Boards of ITV PLC, The Songwriters Hall of Fame, The John Hopkins University, as well as a position on the Council of The Brookings Institution. Leiweke is the current CEO of Maple Leaf Sports and Entertainment. Leiweke’s board appointment is immediate, while Faxon will be nominated at the company's annual shareholders meeting, planned for June 4.
Faxon and Leiweke will take the board positions of venture capitalist Robert Kavner and David Sze, a partner at the investment firm Greylock Partners. Thez will conclude their tenures on June 4, 2015, the day of the annual meeting of stockholders.
"I could not be more excited for Roger and Tim to join the board. Both are forward-thinking and bring invaluable expertise to help Pandora play a leading role in the evolution of the music industry," said Pandora chairman and CEO Brian McAndrews in a statement.
The appointments are the most recent high-profile executive moves since the exit of Tommy Page, former svp of brand partnerships, in March.