Spotify announced that their Chief Financial Officer – CFO will depart the company next year, the move is part of the company’s massive layoffs. Vogel’s last day at Spotify will be March 31, 2024.
The company announced that it is currently looking for a replacement for Vogel.
“Spotify has embarked on an evolution over the last two years to bring our spending more in line with market expectations while also funding the significant growth opportunities we continue to identify,” Ek said.
“I’ve talked a lot with Paul about the need to balance these two objectives carefully. Over time, we’ve come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.”
Was Vogel pushed or not? According to Ek, Spotify and Vogel have “decided to part ways, but I am very appreciative of the steady hand Paul has provided in supporting the expansion of our business through a global pandemic and unprecedented economic uncertainty.”
Vogel joined Spotify in 2016 to lead investor relations and the company’s Financial Planning & Analysis and Treasury teams. He assumed the CFO role in January 2020.
In the third quarter, Spotify reported 574 million users, including 226 million subscribers across 184 markets.
