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.
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