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Sonos CEO Patrick Spence falls on his sword after horrible app launch

Sonos CEO Patrick Spence is stepping down following last year’s disastrous app launch. Don’t worry, as he’ll still have plenty of money.

His payout package includes $7,500 per month until June, a cash severance of $1.9 million and his unvested shares in Sonos will vest. It rolled out a mobile app back in May that was absolutely rife with bugs and missing key features like alarms and sleep timers. Sonos laid off over 100 people in August as it tried to fix the software and revenue fell 16 percent in the fiscal fourth quarter, which ended on September 28.

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