Spotify has announced its Q3 results (more on those soon). Perhaps the bigger news today: the firm’s CFO, Barry McCarthy, will be leaving the firm in January.
According to a financial release, Spotify said: “After playing a pivotal role in Spotify’s listing and helping to establish Spotify as a public company, Barry McCarthy will retire from Spotify on January 15, 2020, stepping down as the company’s CFO. Barry will be replaced by Paul Vogel, who is currently Spotify’s VP of FP&A, Treasury and Investor Relations.
“Paul and Barry have worked together closely for the last 3 years. Pending shareholder approval, it is expected that Barry will be re-appointed to the Spotify Board of Directors, a role he held prior to joining the company as CFO.”
Former Netflix exec McCarthy has gained a reputation as the second most influential figure at Spotify following the departure of SPOT co-founder Martin Lorentzon from the company Chairman position three years ago.
New York-based McCarthy joined Spotify in 2015.
News of McCarthy’s departure comes after recent high-level executive exits from Spotify such as Chief Accountancy Officer (CAO) Luca Baratta, Chief Economist Will Page, global playlisting/curation boss, Mike Biggane, and global Head of Music, Nick Holmstén, and head of African music Tunde Ogundipe.Music Business Worldwide