Spotify CFO Barry McCarthy to retire in January

New York, Oct 28 (IANS) Barry McCarthy, who played a major role in establishing Spotify as a public company, is all set to retire as the company's Chief Financial Officer on January 15, 2020.

Paul Vogel, head of investor relations, will replace McCarthy when he departs early next year, Spotify said in a letter to shareholders.


“Pending shareholder approval, it is expected that Barry will be re-appointed to the Spotify Board of Directors, a role he held prior to joining the company as CFO,” Spotify said.

Globally, Spotify's monthly active users hit 248 million in the third quarter of this year, a growth of 30 per cent year-over year.

The number of its premium subscribers globally grew 31 per cent in the third quarter of this year to 113 million.

The company which saw “exponential growth” in podcast hours streamed, posted an operating profit of euro 54 million.