Shares of Pandora Media Inc (NYSE: P) plunged more than 9 percent Monday after the company announced a new lineup of senior executives.
Pandora Media's Board of Directors appointed Tim Westergren as its new Chief Executive Officer. Westergren is the founder of Pandora and credited with being a "visionary who forever changed how music is enjoyed."
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Westergren will replace Pandora's outgoing CEO, Brian McAndrews following a more than two-year stint as CEO.
Pandora also announced a new management structure, including: 1) Mike Herring (President and Chief Financial Officer) will oversee Pandora's core business, 2) Sara Clemens (Chief Operating Officer) will focus on growth and scaling the business, and 3) Chris Phillips (Chief Product Officer) will focus on product, engineering and marketing.
Finally, Pandora reaffirmed its prior full year fiscal 2016 sales and EBITDA outlook and also expects its first quarter sales and EBITDA guidance to be at the high end range of its guidance.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.