The audio company’s longtime CEO Patrick Spence has stepped down after a tumultuous eight months following an app update that introduced a slew of bugs and left out important features. Board member Tom Conrad replaced the Canadian exec, and is serving as interim CEO effective immediately. (Bloomberg)

Talking point: Some customers said they had spent tens of thousands of dollars on Sonos equipment that they couldn’t properly use because of the app debacle. The company scrambled to fix malfunctions, but much of the damage to the business was done. Sonos’s revenue declined 16 per cent year-over-year for the three months ended Sept. 30, and the company delayed two product releases because of the glitches. “This year we’ve let far too many people down,” Conrad said in a letter to employees. “I’m here to get us back on track.” Sonos’s stock was down about 3.8 per cent in Monday mid-afternoon trading.