Pandora Media Inc. co-founder and chief executive Tim Westergren plans to step down, according to a report Sunday night by Recode. The report said he will likely stay on at the Oakland-based internet radio company until a new CEO is found. Westergren started his second stint as Pandora’s CEO in 2016. Since then, the company has been the subject of many sales rumors, and earlier this month SiriusXM agreed to invest $480 million for a stake in the company. Pandora shares are down almost 10% in the past month, and down more than 29% in the past year.
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