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Former Twitter executive Adam Bain tipped to become next Pandora Media CEO

Last updated: 15:43 06 Jul 2017 EDT, First published: 09:06 06 Jul 2017 EDT

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Pandora is the US-version of Spotify

Twitter Inc.’s (NYSE:TWTR) former chief operating officer has been tipped as the next boss of US music streaming service Pandora Media Inc. (NYSE:P).

Adam Bain has been put on the short list of candidates to replace Pandora chief executive Tim Westergren, who stepped down effective immediately last week, according to the New York Times.

Bain, who quit Twitter in November after six years at the social media group, has been mentioned in recent conversations between board members and larger shareholders of Pandora, sources told the newspaper.

“They have someone in mind who is a world-class executive with an advertising background,” said one source.
However, the recruitment firm hired to find a new boss, Spencer Stuart, has yet to hold talks with Bain, they said.

Bain was credited with building Twitter’s entire multi-billion dollar advertising business and could help boost Pandora’s ad revenue.  He is currently unemployed. Twitter has replaced him with its chief financial officer, Anthony Noto, and is searching for a new CFO.

Pandora reported a 1.4% rise in ad revenue in the first quarter, slowing from the 15% increase achieved the same period a year ago.

Westergren left the business at the same time as president Mike Herring and chief marketing officer Nick Bartle.

Their departures came as Liberty-backed Sirius XM announced a deal to buy a 16% stake in Pandora for US480mln.

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