Pandora Media Inc. named Brian McAndrews, a former aQuantive and Microsoft Corp. executive, as its new chief executive and chairman, a move that comes six months after Joe Kennedy said he would be stepping down from the Internet-radio company's helm.
Shares jumped 2.8 percent to $21.99 after hours Wednesday.
McAndrews's appointment is effective immediately. Pandora said that in the search for a new CEO the board had sought a candidate who could build on the company's leading position in Internet radio and accelerate its fast-growing advertising business.
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