Spotify Announces Addition to Board of Directors
Spotify (NYSE: SPOT) announced the appointment of Mona Sutphen to its Board of Directors, effective April 2021, pending shareholder approval. Sutphen, a private equity advisor and former Deputy Chief of Staff for President Obama, brings extensive experience in technology policy and macroeconomics. Spotify’s CEO, Daniel Ek, highlighted her potential to offer valuable insights as the company navigates global changes. The decision awaits ratification at the Annual General Meeting on April 21, 2021.
- Mona Sutphen's extensive background in technology policy and macroeconomics may provide valuable strategic insights to Spotify.
- Her experience in both public and private sectors could help navigate emerging risks and opportunities in the audio industry.
- Sutphen's lack of direct experience in the audio streaming industry may raise concerns about her fit with Spotify's specific challenges.
Spotify (NYSE: SPOT) today announced that Mona Sutphen will join the Spotify Board of Directors in April of 2021, subject to shareholder approval. Ms. Sutphen is a private equity advisor and a co-founder/advisor for several technology start-ups, and was a senior White House official during the Obama Administration.
Mona Sutphen (Photo: Business Wire)
“Mona has built a career in both the private and public sectors advising leaders on international and U.S. domestic policy, technology, macroeconomics and trade, and human rights...and that’s just the tip of the iceberg,” said Daniel Ek, Spotify Founder, CEO and Chairman of the Board. “Mona will bring a new and highly valuable perspective to the Board as we focus on driving our strategy forward during this time of exceptional change around the world.”
“I’m very much looking forward to joining the Spotify Board of Directors,” said Ms. Sutphen. “Spotify has been a revolutionary force and impressive innovator in the audio industry, transforming the content landscape globally. I’m excited to be a part of its continued evolution and expansion.”
Ms. Sutphen is currently a Senior Advisor at The Vistria Group, a Chicago-based private equity firm, and is a venture advisor and co-founder of several technology start-ups. Previously, she was a partner at Macro Advisory Partners (MAP), where she led the firm’s U.S. practice advising leading global corporates on emerging risks and opportunities across a range of sectors, including technology platform regulation, market entry strategies, and political dynamics and regulatory risks in the U.S., China and Europe. Prior, Ms. Sutphen was a managing director at UBS AG, where she developed new tools for political risk evaluation impacting capital markets.
From 2009 to 2011, she served as White House Deputy Chief of Staff for Policy for President Barack Obama, advancing the administration’s policy and regulatory agenda including on technology policy, and served on the President’s Intelligence Advisory Board from 2013-2016. Ms. Sutphen is an Independent Director for Pattern Energy and a Trustee of Putnam Mutual Funds. She is a member of the Council on Foreign Relations, serves on the Boards of the International Rescue Committee and Human Rights First, and is a Trustee of Mount Holyoke College.
The appointment is subject to shareholder approval at Spotify’s Annual General Meeting on April 21, 2021.
About Spotify Technology S.A.
Spotify is the world’s most popular audio streaming subscription service with a community of more than 345 million Monthly Active Users and 155 million Premium Subscribers. With a presence in 93 markets, and more than 70 million tracks including 2.2 million podcast titles, it has transformed the way people access and enjoy music and podcasts.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210216005146/en/
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