Michael Sheridan has resigned as CFO of music startup Project Playlist, we’ve confirmed. This comes just a couple of weeks after CEO Owen Van Natta resigned to take the top spot at MySpace.
Sheridan is a former News Corp. executive and was also previously the CFO of Facebook. One source says he walked out yesterday after a dispute over the acquisition of Total Music. Another source says the departure isn’t nearly as dramatic, and that Sheridan was simply part of the restructuring announced as part of that acquisition. This source says that new CEO John Sykes, who took over after Van Natta’s abrupt departure, is simply putting his own exec team in place. “Sheridan was one of Van Natta’s guys” says the source.
Playlist has not yet responded to a request for comment.
Whatever the true story is, Sheridan is yet another casualty of Van Natta’s abrupt departure from Playlist, a company he ran for just five months. He left Playlist in a shambles, and Skyes is left to clean up the mess. As we’ve seen before, being “one of Van Natta’s guys” can be hazardous to your career.
John Sykes, really? wow…..
Second
this van natta guy is machiavellian – “marked by cunning, duplicity, or bad faith”
in the long run people like that lose if people stand up to it.
Sometimes to execute a strategy the calm boat has to be rocked.
Life goes on.When one door closes another one opens.
lol. I’m sure Sheridan is comforted by your words of wisdom.
‘resigned’ or ‘laid off’? Do some actual journalism or pick up a dictionary to figure out the difference.
Van Natta’s tenure was indecisive and destructive. He managed to blow up and complicate the org chart and shrink revenue, and his people are worthless.
Why does PP need a CFO?
Exactly my thought.
God I’m so bored by this non news.
ouch.
Has there ever been an executive who has achieved less and caused more damage to multiple businesses in the Internet world? At minimum, Van Natta is on the Mount Rushmore of these clowns.
Arrington – I take it you don’t like Van Natta? Was it because he left 5 months into a job or other reasons? I don’t know which is why I ask.
Yeah – I understand reporting the whole scenario, but Mike has such an obvious dislike for the guy which is kinda strange.
I find him to be the opposite of everything I love about Silicon Valley and entrepreneurism. my previous posts explain why.
Turbulent times at playlist! Will be interesting to see where sheridan lands.