Spotify is switching out CFOs. The streaming music service has named board member and former Netflix executive Barry McCarthy as its new chief financial officer, replacing Peter Sterky, who will remain at the company. A spokesperson confirmed the shakeup. According to The New York Times, McCarthy will step down from the board and start his new job on July 6.
McCarthy spent the entire aughts as Netflix’s CFO, holding the role from 1999 through late 2010. During his tenure, Netflix went public, in 2002, and later began its transition from primarily a DVD-sender to the streaming television leader it is today. Before Netflix, he held a similar role at Music Choice.
After leaving Netflix, McCarthy was CFO of mobile payments start-up Clinkle and he has been on the boards of Pandora, Eventbrite and Rent the Runway.
In typical fashion, Spotify declined to comment on the hire and has not disclosed what Sterky’s new role will be.
