Pandora CEO Roger Lynch is to leave the streaming service.

The company announced his exit following the shareholder vote in favour of the takeover by Sirius XM. The deal is now worth $3 billion (£2.3bn) - down from the original $3.5bn (£2.7bn) after a slide in the share price.

In the autumn, Lynch said he “couldn’t be more excited” about joining forces with Sirius XM. But he will now leave Pandora once the deal is completed.

Sirius XM CEO Jim Meyer will head up the combined company. 

Other Pandora executives departing include general counsel Steve Bene, CFO Naveen Chopra and chief human resources officer Kristen Robinson.

For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter