Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2025-01-13 17:07:04| Engadget

Sonos CEO Patrick Spence is stepping down from the company after eight years on the job, according to reporting by Bloomberg. This follows last years disastrous app launch, in which a redesign was missing core features and was broken in nearly every major way. The company has tasked Tom Conrad to steer the ship as interim CEO. Conrad is a current member of the Sonos board, but was a co-founder of Pandora, VP at Snap and product chief at, wait for it, the short-lived video streaming platform Quibi. He also reportedly has a Sonos tattoo. The board has hired a firm to find a new long-term leader. I think well all agree that this year weve let far too many people down, Conrad wrote employees in a letter. Getting back to basics is necessary, but clearly not enough to unlock the future we all envision for Sonos. He also suggested that he wants the company to expand well beyond home speakers and related gear. As for Spence, hell be just fine. His payout package includes $7,500 per month until June, a cash severance of $1.9 million and his unvested shares in Sonos will vest. He was with Sonos for more than a decade. The decision to swap leadership comes after months of turmoil at the company. It rolled out a mobile app back in May that was absolutely rife with bugs and missing key features like alarms and sleep timers. Some customers even complained that entire speaker systems would no longer work after updating to the new app. It was a whole thing. Sonos tried to win back customer trust by extending the manufacturer warranty for home speaker products and creating an advisory board that would provide the company with "feedback and insights from a customer perspective to help shape and improve our software and products before they are launched. That didnt ease the financial burden faced by the company. The stock price has fallen by around 13 percent since the app launched. Sonos laid off over 100 people in August as it tried to fix the software and revenue fell 16 percent in the fiscal fourth quarter, which ended on September 28. Analysts project an additional 15 percent decline throughout the holiday period.This article originally appeared on Engadget at https://www.engadget.com/audio/speakers/sonos-ceo-patrick-spence-falls-on-his-sword-after-horrible-app-launch-160704330.html?src=rss


Category: Marketing and Advertising

 

Latest from this category

25.04How to watch LlamaCon 2025, Meta's first generative AI developer conference
25.04Gmail on Android tablets and foldables now has an adjustable layout
25.04It seems like most Windows users don't care for Copilot
25.04Infinity Nikki is coming to Steam and getting a co-op mode
25.04It feels alive: The Legend of Ochi director on the power of puppets
25.04Boox's new Go 7 E Ink tablets support handwriting with a $46 stylus
25.04Google won't bring new Nest Thermostats to Europe
25.04Microsoft's Recall and improved Windows search start rolling out to Copilot+ AI PCs today
Marketing and Advertising »

All news

26.04Evening Headlines
26.04Kidney care company spun off from Baxter earlier this year establishes headquarters in Deerfield
26.04Former Chicago Bears offensive lineman Teven Jenkins lists Vernon Hills home for $785,000
26.04Illinois bans credit card wagering on sports, but use of digital payment methods at casinos still allowed
26.04Empire mansion in Barrington Hills sells for $6.5 million after spending years on the market
25.04Stocks Reversing Higher into Final Hour on US/Global Trade Deal Hopes, Falling Long-Term Rates, Earnings Outlook Optimism, Tech/Alt Energy Sector Strength
25.04Weekly Scoreboard*
25.04How to watch LlamaCon 2025, Meta's first generative AI developer conference
More »
Privacy policy . Copyright . Contact form .