Brian McAndrews, ex-aQuantive, a digital advertising company, head has been appointed as the chief executive of the internet giant Pandora on Wednesday. The move comes as Pandora attempts to accelerate growth in the advertising revenue.
McAndrews’ Primary Task
The 54-year-old McAndrews’ first task is to speed the already quick revenue growth at the Internet radio company as it struggles to meet the increasing royalty payments of artists.
In an interview on Wednesday the newly appointed CEO said that while it would not possible to go into the specifics of his strategy to help Pandora grow, ad growth was certainly an aspect that he would focus on.
With his appointment, McAndrews has replaced Joe Kennedy as the CEO of Pandora. Kennedy had announced in March that he plans to retire this year.
Pandora’s new CEO is already bringing the firm some good news. On Wednesday the company’s stocks jumped by 7.8% in the after-hours trading.