Deezer CEO Jeronimo Folgueira leaves after positive 2023 results

Deezer, listed on Euronext Paris (DEEZR), announced the departure of Jeronimo Folgueira, CEO of the company, who has decided to leave his position to devote himself to personal projects. This departure comes after the announcement of significant improvements in Deezer's financial results for the year 2023. The board of directors is currently selecting a new CEO, who will be announced later.

Jeronimo Folgueira will remain in the role until the end of March 2024, ensuring a smooth transition. Under his leadership since May 2021, Deezer has experienced notable successes, including strong financial growth in 2023, a successful listing on Euronext Paris, the adoption of a new brand identity, and innovation with the new payment system artist-centered.

Deezer's strategy remains focused on profitability and revenue acceleration, aiming to become free cash flow positive in 2024 and achieve operating profitability in 2025. The Board of Directors reiterates its commitment towards increasing of the direct subscriber base in key markets, notably in France, and continued growth through partnerships for international expansion.