The Sonos, Inc. Board of Directors and Patrick Spence have agreed that Mr. Spence will step down as Chief Executive Officer (CEO) and as a member of the Board and have appointed Tom Conrad, an independent member of the Board since 2017, as Interim CEO, all moves were effective 13 January 2025.
The Board have initiated a search for its next CEO and is committed to identifying a leader who will build on the Sonos legacy of innovation and excellence in serving its customers while also driving profitable growth. A company statement informs that the leadership change is unrelated to the Company’s fiscal first quarter results, which will be reported on 6 February 2025, and for which the Company is providing no update at this time.
“On behalf of the Board, I want to thank Patrick for his contributions as CEO,” said Julius Genachowski, Chair of the Board of Directors. “During his tenure, Patrick built on our pioneering success in wireless home audio and led the Company’s expansion into premium audio for home theater, portables, and headphones. We appreciate Patrick’s dedication to Sonos.”
Mr. Genachowski continued, “Tom’s mandate is to improve the Sonos core experience for our customers, while optimizing our business to drive innovation and financial performance. With his deep product expertise and long-term relationship with Sonos, Tom is uniquely suited to guide the company forward during the transition and the Board looks forward to partnering with him closely. We are excited about the opportunity ahead.”
“I am deeply honored to step into this role at such an important moment for Sonos,” said Mr. Conrad. “Nearly two decades ago, when I led the earliest initiative to integrate Pandora and Sonos, I got my first glimpse of the magic that Sonos could bring to millions of lives every day. I am excited to work with our team to restore the reliability and user experience that have defined Sonos, while bringing innovative new products to market. Together, we will focus on delivering extraordinary experiences for our customers and strong results for our shareholders.”