Sonos CEO resigns following rough 2024, company appoints interim CEO
Patrick Spence, the CEO of Sonos, has announced his resignation effective immediately. His exit from the company comes following a troubling 2024 caused by a new companion app that was supposed to be easier, faster, and better
according to the CEO. Unfortunately, the app which was released in May 2024 lacked important features from the old app. Its first pair of headphones, the Sonos Ace also didn't sell as well as expected.
Sonos also confirmed the news in an official press release and revealed that Mr. Pence will also be stepping down as a member of the board. While the company has begun the search for a new CEO, it has appointed Tom Conrad, an independent board member since 2017 as Interim CEO. Mr. Conrad's experience includes serving as the Chief Product Officer of Quibi, the VP of Product at Snap Inc., and the Chief Technology Officer and VP of Product at Pandora.
According to The Verge, Pence is the only top executive leaving. However, he will technically remain with the company until the end of June, providing strategic advisory services after which he will be paid a severance of $1,875,000.
Sonos also has no plans to revert to the old app nor does it plan to put a hold on upcoming products such as a rumored streaming device. However, in a letter written to employees, Mr. Conrad revealed that in addition to getting the company back on track, he also intends to expand the Sonos platform.
