Pandora co-founder and CEO Tim Westergren to reportedly step down

If unsubstantiated reports today prove correct, Pandora’s CEO and co-founder Tim Westergren plans to step down from his role at the company very soon.

Recode aren't quoting anyone on the record, but those in the know claim Westergren has made the move, but will remain with the company until a replacement is found. Although he helped to create the company, last year was the first time Westergren stepped up into the chief executive role.

Pandora appear to be doing a lot of fundamental reshuffling of late, selling its Ticketfly business to Eventbrite, and receiving funding to the tune of US$480m from satellite radio company Sirius XM. Both these moves have resulted in a cash infusion of roughly US$700m.