Sonos CEO Patrick Spence is on his sword after the shocking app launch

Sonos CEO Patrick Spence is stepping down from the company after eight years. . This comes after last year The redesign was missing key features and was broken in almost every major way.

The company has tapped Tom Conrad to steer the ship as interim CEO. Conrad is a current member of the Sonos board of directors, but was a co-founder of Pandora, a VP at Snap, and the head of product at Wait for it. . Him too He is said to have a Sonos tattoo. The board of directors has appointed a company to find a new long-term leader.

“I think we would all agree that this year we have let a lot of people down,” Conrad wrote to employees in a letter. “Going back to basics is necessary, but clearly not enough to unlock the future we all envision for Sonos.” He also suggested that he wants the company to expand “beyond” home speakers and related equipment.

As for Spence, he’ll be fine. His pay package includes $7,500 a month through June, $1.9 million in cash, and his unvested Sonos shares will vest. He’s been with Sonos for over a decade.

The decision to exchange leadership comes after months of turmoil in the company. I rolled out a mobile app last May and it was riddled with bugs and missing key features like alarms and sleep timers. Some customers even complained that entire speaker systems wouldn’t work after updating to the new app. It was the whole thing.

Sonos By extending the manufacturer’s warranty on home speaker products and creating an advisory board that will provide the company with “feedback and insights from the customer’s perspective to help shape and improve our software and products prior to launch.”

But this did not ease the financial burden facing the company. The stock price has fallen by about 13 percent since the app was launched. Sonos laid off more than 100 people in August while trying to fix the software and revenue fell 16 percent in its fiscal fourth quarter that ended September 28. Analysts expect an additional 15 percent decline throughout the holiday period.