Paul Vogel will step down as Spotify’s chief financial officer on March 31, 2024, the company announced Thursday (Dec. 7). As the streaming giant searches for a replacement, Ben Kung, vp of financial planning and analysis, will take on expanded responsibilities to support “the company’s realignment of its financial leadership team,” the announcement stated.
Vogel was promoted to chief financial officer in 2020 after the departure of Barry McCarthy (he would become CEO of Peloton in 2022). He had previously headed Spotify’s investor relations and led the financial planning and analysis teams. During his tenure, Spotify grew from 124 million to 226 million subscribers and expanded quarterly revenue by 81% from 1.86 billion euros ($2 billion) to 3.36 billion euros ($3.63 billion).
Despite the constant growth, Spotify has continued to routinely…
