Leadership Change at Sonos
Patrick Spence has resigned as CEO and board member of US smart speaker and internet radio manufacturer Sonos, effective immediately.
The Council has appointed Tom Conrad, an independent member of the Board of Directors since 2017, as interim CEO, also effective today.
Ongoing Search for New CEO
In a statement released on Monday (Jan. 13), Sonos announced that its Board of Directors has begun the search for its next CEO, enlisting the help of a “leading executive search firm.” The board is “committed to identifying a leader who will build upon Sonos’ legacy of innovation” and provide superior service to customers while driving profit growth.
Spence’s departure follows issues that arose six months after consequences related to the updated app, which has been reported as missing features at startup.
In August, the company terminated 100 employees, which amounts to approximately 6% of the workforce.
Sonos stated that the leadership transition is “unrelated” to the company’s fiscal first quarter results, scheduled for release on Feb. 6, 2025, and is “not providing any updates at this time.”
During the third calendar quarter (fiscal fourth quarter) of 2024, ending in September, Sonos received US$1.52 billion, reflecting a decline of 8% y/y, driven by “lower demand due to challenging market conditions and complications arising from the recent app rollout.”
Reflections from the Board
“On behalf of the Board of Directors, I would like to thank Patrick for his contributions as CEO,” stated Julius Genachowski, Chairman of the Board, on Spence’s exit from the company.
“During his tenure, Patrick built upon our pioneering success in wireless home audio and guided the company’s expansion into premium audio for home theaters, laptops, and headphones. We appreciate Patrick’s dedication to Sonos.”
“Tom’s goal is to enhance the core Sonos experience for our customers while optimizing our business to drive innovation and financial performance.”
Julius Genachowski, Sonos Board of Directors
Genachowski emphasized, “Tom’s mission is to improve the core Sonos experience for our customers while optimizing our business to foster innovation and financial performance.”
“With his extensive product expertise and long-standing relationship with Sonos, Tom is perfectly positioned to guide the company during this transitional phase, and the Board looks forward to collaborating closely with him. We are optimistic about the opportunities that lie ahead.”
“I am honored to step into this role at such an important time for Sonos.”
Tom Conrad
“I am honored to take on this role at such a pivotal moment for Sonos,” said Conrad. “Nearly two decades ago, when I led the initial effort to integrate Pandora with Sonos, I witnessed the magic that Sonos could bring to millions of lives every day.
“I look forward to collaborating with our team to restore the reliability and user experience that define Sonos while introducing innovative new products to the market. Together, we will prioritize delivering exceptional experiences for our customers and strong results for our shareholders.”
Sonos boss Patrick Spence steps downs as CEO and Board member
