×

Spotify’s Chief Accounting Officer Luca Baratta Is Out

Spotify’s chief accounting officer Luca Baratta has left the company, the music streaming service revealed in a SEC filing Wednesday afternoon. Baratta will be succeeded by Paul Sawyer, Spotify’s current controller.

“Mr. Baratta’s departure is not the result of any disagreement with the Company’s accounting principles or practices,” declared the statement in typical boilerplate fashion.

A Spotify spokesperson confirmed the departure in an email to Variety, writing: “We are grateful for Luca’s service to Spotify and wish him luck in his future endeavors.”

Baratta became Spotify’s chief accounting officer in early 2016. Before that, he worked as the vice president of finance and chief accounting officer at Twitter. His successor, Paul Sawyer, joined the music streaming service in the same year.

News of Baratta’s departure comes just days after Spotify’s head of music Nick Holmsten stepped down from his post. And in July, the company’s global head of curation strategy, left for Universal Music.

Investors responded negatively to the announcement of Baratta’s departure, sending the company’s share price down $1.75, or 1.3%, in after-hours trading. During normal trading hours, Spotify’s stock was up close to 1.6% Wednesday.

 

Popular on Variety

More Digital

  • Brad Pitt stars in “Ad Astra”.

    ‘Ad Astra’ Once Again Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the always-on TV ad measurement and attribution company iSpot.tv, Twentieth Century Fox claims the top spot in spending for the third week in a row with “Ad Astra.” Ads placed for the sci-fi film had an estimated media value of $6.47 million through [...]

  • Andrew MorseVariety's Entertainment & Techonology Summit,

    Listen: CNN Digital Chief Says Trump Doesn't Drive Traffic Success

    No subject might get as much attention across CNN’s digital properties as Donald Trump, but that doesn’t mean the news network is dependent on him for web traffic. Andrew Morse, executive VP and general manager of the AT&T-owned company’s digital operations, pointed to recent coverage of natural disasters and international incidents as more potent audience [...]

  • Jonah Hill attends the press conference

    Instagram Debuts Jonah Hill’s ‘Un-filtered’ Bullying Docu-Series (EXCLUSIVE)

    Facebook’s Instagram, as part of its anti-bullying initiatives, funded a new series directed by Jonah Hill featuring teens and young adults talking about their experiences with bullying. The four-episode “Un-filtered” goes live Wednesday (Sept. 18) on Instagram’s IGTV channel on its mobile app and the web. In the unscripted series, Hill interviews people aged 13-25 [...]

  • Plex

    Plex Signs Up Lionsgate for Upcoming Ad-Supported Video Service

    Media center app maker Plex has struck a deal with Lionsgate to add some of the studio’s movies and TV shows to its upcoming ad-supported video service. The news comes just weeks after Plex announced a similar deal with Warner Bros. “Lionsgate is one of the biggest names in the business and we know our [...]

  • Comcast Xfinity Flex

    Comcast Drops $5 Monthly Fee for Xfinity Flex Video-Streaming Set-Top for Broadband Customers

    Comcast will hand out one free set-top box for broadband subscribers to access Xfinity Flex, its video-streaming product for internet-only customers, as it looks to punch up the value of its high-speed internet business. Brian Roberts, Comcast’s chairman and CEO, announced the new strategy at Goldman Sachs’ Communacopia conference Wednesday in New York. “One of [...]

  • Facebook Portal TV

    Facebook Announces $149 Portal TV Device, 2 New Portal Smart Displays

    Facebook wants you to put a camera into your living room: The company officially unveiled its Portal TV device Wednesday that brings video chatting, augmented reality (AR) and Facebook Watch to any TV set. In addition, the company also unveiled two new Portal smart display devices that are aggressively priced to grow the company’s home [...]

More From Our Brands

Access exclusive content