Sonos, Inc. (SONO), a renowned audio technology firm based in California, announced on Monday that Patrick Spence has resigned from his roles as CEO and Board member, effective immediately. The Board has appointed Tom Conrad, who has been serving as an independent member since 2017, as the Interim CEO.
The company stated in a press release that it has begun the search for a permanent CEO. This process is being facilitated by an executive search firm with the objective of identifying a leader capable of sustaining Sonos' tradition of innovation and exceptional customer service while driving growth. It was noted that this change in leadership is not connected to the company's fiscal first-quarter results, which are anticipated to be released on February 6, 2025. No further details are available at this moment.
Currently, SONO shares are trading at $14.32, reflecting a decrease of 1.41% on the Nasdaq Global Select Market.
