Pandora stock surged 12% to finish at $23.97 Thursday , its
best closing level since it went public on June 15, 2011, according to marketwatch.com.
During the session, the stock also hit a high of $24.43, the
highest since it tested $26 on its debut.
The Internet radio company on Wednesday said Brian McAndrews
would take over as chief executive, president and chairman, succeeding
long-time head Joe Kennedy. (See Original Posting, Click Here.)
“We think McAndrews is a strong hire for Pandora given his
deep experience in the digital media and advertising space across both smaller,
high-growth companies and well-established publishers,” Doug Anmuth, an analyst
at J.P. Morgan, said in a note.
McAndrews was most recently with Madrona Venture Group and
served as senior vice president of Microsoft Corp.’s MSFT advertiser and
publisher solutions unit prior to that.
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