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Sonos, Inc. (NASDAQ: SONO) announces the resignation of CFO Brittany Bagley effective September 1, 2022, to pursue another opportunity. Eddie Lazarus, the Chief Legal Officer, will take over as interim CFO. Bagley has significantly contributed to Sonos' growth, market expansion, and shareholder value during her tenure. Lazarus brings extensive experience in financial management and strategic planning. Sonos will also discuss its third-quarter financial results in a conference call today at 5:00 p.m. Eastern Time.
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Eddie Lazarus has significant experience in financial management and strategic planning.
Brittany Bagley contributed to Sonos' growth and shareholder value during her tenure.
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Company Names Eddie Lazarus Interim Chief Financial Officer
SANTA BARBARA, Calif.--(BUSINESS WIRE)--
Sonos, Inc. (Nasdaq: SONO) today announced that Brittany Bagley, the Company’s Chief Financial Officer (CFO), is stepping down to pursue another professional opportunity. Eddie Lazarus, the Company’s Chief Legal Officer (CLO) will succeed Ms. Bagley as interim CFO effective Sept. 1, 2022.
“Brittany has been an outstanding contributor to Sonos’ growth both on the board and since joining the executive team over three years ago. She played an instrumental role in new market and category expansion while driving financial performance and increasing shareholder value and the strength of our balance sheet. We thank her for all her contributions to Sonos, and wish her well in her next role,” said CEO Patrick Spence. “Eddie has exceptional management experience in key financial disciplines including capital allocation and strategic planning, and is well qualified to lead our finance function. I look forward to partnering even more closely with Eddie on executing Sonos’ key business and financial priorities moving forward.”
Eddie Lazarus has served as Sonos’ Chief Legal Officer since 2019. In addition to his CLO duties, Mr. Lazarus has played an active role in the Company’s strategic planning and also provided day-to-day guidance for the finance organization during Ms. Bagley’s parental leave last year. Prior to joining Sonos, Mr. Lazarus served as General Counsel and Chief Strategy Officer for Tribune Media Company from 2013 to 2018, where he played an integral role in the development and execution of Tribune’s financial and business strategies, which included the spin-off of multiple assets, the $2.7 billion acquisition of Local TV Holdings and Tribune’s subsequent $7.2 billion sale to Nexstar. He also advised on key capital markets offerings. Since 2015, Mr. Lazarus has served on the board of directors of the Sequoia Fund, a concentrated long-only equity fund.
“I am proud of all that we accomplished during the more than three years I have been CFO,” said Brittany Bagley. “Our focus on operational excellence and financial discipline as well as product innovation, including key acquisitions and strategic expansions, has enabled us to create a fundamentally stronger business that is well positioned for the long-term. I want to express my gratitude to the entire team at Sonos for their support and contributions. I will always be a fan of Sonos and its products, and I wish Patrick, Eddie and the entire company continued success in the years to come.”
Sonos today separately announced its financial results for the third quarter ended July 2, 2022 and will host a conference call and Q&A to discuss the results today at 5:00 p.m. Eastern Time. A live webcast of the conference call and Q&A will be accessible at https://investors.sonos.com/news-and-events/default.aspx. A replay of the webcast and transcript will be available through the same link following the conference call.
The live conference call may also be accessed toll free by dialing (888) 330-2454 with conference ID 8641747. Participants outside the U.S. can access the call by dialing (240) 789-2714.
About Sonos
Sonos (Nasdaq: SONO) is one of the world’s leading sound experience brands. As the inventor of multi-room wireless home audio, Sonos innovation helps the world listen better by giving people access to the content they love and allowing them to control it however they choose. Known for delivering an unparalleled sound experience, thoughtful home design aesthetic, simplicity of use and an open platform, Sonos makes the breadth of audio content available to anyone. Sonos is headquartered in Santa Barbara, California. Learn more at www.sonos.com.
This press release contains forward-looking statements that involve risks and uncertainties. These statements include, but are not limited to, those regarding our ability to make a smooth leadership transition, our ability to meet our business and financial goals and our financial outlook. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including, but not limited to, the risk factors set forth under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended April 2, 2022 and our other filings filed with the Securities and Exchange Commission (the “SEC”), copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this press release, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events. Sonos and Sonos product names are trademarks or registered trademarks of Sonos, Inc.
Brittany Bagley resigned to pursue another professional opportunity.
Who is the new interim CFO of Sonos?
Eddie Lazarus, the Chief Legal Officer, will serve as the interim CFO effective September 1, 2022.
What experience does Eddie Lazarus bring to his new role as interim CFO?
Eddie Lazarus has extensive experience in financial management and strategic planning, having previously served as General Counsel and Chief Strategy Officer at Tribune Media Company.
What is the significance of the CFO transition for Sonos?
The transition may impact Sonos' financial strategy and performance, as Eddie Lazarus takes over key financial management duties.
When will Sonos discuss its third-quarter financial results?
Sonos will discuss its third-quarter financial results during a conference call today at 5:00 p.m. Eastern Time.
