Jordan Crosby | On 07, Mar 2013

Music streaming service Pandora has today announced their CEO Joseph Kennedy is stepping down from his position.

Pandora announced the news after announcing the companies fourth-quarter earnings shares jumped up 19% in after hours trading to $13.96.

“As part of our board discussions of the road that lies ahead, I reached the conclusion and advised the board that the time is right to begin a process to identify my successor,”

Joseph Kennedy joined the company as the CEO back in  2004 and said he will stay at the company until they find a replacement.