Sonos CEO Patrick Spence steps down after app update debacle
- Patrick Spence has stepped down as CEO of Sonos following a problematic app update that led to customer dissatisfaction and product delays.
- Tom Conrad has been appointed as the interim CEO of Sonos, effective immediately, while the company searches for a permanent replacement.
- The app update issues resulted in a projected cost of $20 million to $30 million for fixes and a 6% staff reduction at Sonos.
- Sonos reported a 16% decline in sales and a net loss of $53 million in its most recent quarter, with stock prices falling by around 24% since the app overhaul.
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Total News Sources0
Leaning Left11Leaning Right2Center7Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
L 55%
C 35%
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