TOP STATION FOR PANDORA FOUNDER

Pandora founder Tim Westergren will step up to the CEO post at the music service, as Chairman Brian McAndrews steps down.

The news comes as the music-tech firm, long the dominant force in streaming radio, readies an on-demand contender. Built on the bones of acquisition RDIO, the new Pandora offering is intended to rival Spotify, Apple Music, et al.

Insiders say that the music-focused Westergren's return to the helm is an affirmation of the company's current direction.

"We are pursuing a once-in-a-generation opportunity to create a massive, vibrant music marketplace," Westergren declared. We have the audience, the technology infrastructure, the monetization engine and most importantly the right team with the passion and commitment to do it."

Board member Jim Feuille will take on the Chairman role to Westergren's CEO. The latter, who founded Pandora in 2000, also served as chief exec from 2002-04.

Pandora stock dipped 9 percent on the latest news, as investors try to wrap their heads around Pandora's next direction. The company claimed some 81.1 million active listeners (and 250m registered users) as of February.

Will the app's ubiquity and ongoing success as a radio service drive big subscriptions for the on-demand incarnation? We shall see.