Yup, nothing strange about it. It’s actually pretty normal for high-ranking officials to join other companies in the Board of Directors. Panos Panay could be doing the same.
The Windows and hardware chief at Microsoft may be close to joining the home audio device manufacturer in this capacity, a new filing by Sonos with the SEC reveals. It is for the issuance of Restricted Stock Units (RSUs).
Dated August 14, the transaction was apparently issued on August 12.
It is likely that Panos will be inducted into the board sometime during the company’s annual stakeholders meeting, after which the said shares will be transferred. These amount to 10% ownership, with the RSUs vesting in full on February 27, 2021 or the next annual meeting of shareholders.
Interesting as this may seem, it does not necessarily mean that Panos Pany is leaving Microsoft to serve on the Sonos board.
As mentioned above, it is not uncommon for top executives to hold such positions in other companies. Satya Nadella, the Microsoft CEO, for example, is part of Starbucks Board of Directors.
Panay, who serves as the Chief Device Office at Redmond recently saw his team expand to included more of the Windows workforce come under his leadership. Hard to see things majorly changing, what with the recent reorganization that made his position at Microsoft becoming even more impactful.
But you never know!