If you're looking for foreign companies to own, Spotify (NYSE: SPOT), MercadoLibre (NASDAQ: MELI), and Taiwan Semiconductor (NYSE: TSM) stand a cut above the rest. You probably know Spotify as the music streaming company, but it's becoming much more than that. Spotify is the business that wants to "own your ears," and that's what differentiates it from competitors like Apple and YouTube that have bigger businesses outside of music.
Spotify CFO Paul Vogel will exit his position in March of next year.
Spotify's chief financial officer will step down next year, according to the music streaming service, just days after it announced its third round of layoffs for 2023. In a statement announcing CFO Paul Vogel’s departure, CEO Daniel Ek said that the two had “come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.” Spotify said this week that it would be axing 17% of its global workforce, citing the need to slash costs and become profitable.