Pandora Media’s (P) stock was down more than 12% Monday and is declining again Tuesday. The culprit is a vague press release that announced the current CEO Brian McAndrews is stepping down and being replaced by Pandora founder Tim Westergren.

The reason for the sharp decline is that some analysts see it as an admission that there are big problems within the company. However, the news is a positive in the sense that McAndrews’ hiring as the top person at Pandora never made sense in the first place. McAndrews was only hired two and a half years ago. His background was questionable from the start.



Original piece by Eric Jackson