Pandora CEO Kennedy to step down

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Associated Press

Posted on March 8, 2013 at 6:06 AM

Updated Friday, Mar 8 at 6:06 AM

OAKLAND, Calif. (AP) — Pandora Media Inc. Chief Executive Joseph Kennedy is stepping down.

The company announced the change Thursday after reporting fourth-quarter results that showed a narrower loss and higher revenue than analysts expected.

Shares jumped $2.23, or 19 percent, to $13.96 in after-hours trading on the news.

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