Pandora Hires New CFO

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On Monday, Internet radio service Pandora (NYSE: P ) announced it has hired away Adobe Systems' (NASDAQ: ADBE ) Vice President of Operations Michael Herring to serve as its new chief financial officer.

The move represents a return to a CFO role for Herring, who prior to joining Adobe held CFO positions at both Omniture (before Adobe bought it) and Ancestry.com (back when it was known as MyFamily.com).

Pandora investors took the news in stride Monday, holding the stock to just a 0.3% loss in a market where many companies fell much farther. Shares closed at $11.42.

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