Gangwani closes books on Napster

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Online music service operator Napster said Monday that CFO Nand Gangwani, who has been commuting between San Francisco and Los Angeles for the last four years, has decided to step down for personal reasons, effective Dec. 31.

Suzanne Colvin, Napster's vp of finance and corporate controller, will serve as interim CFO while a search is conducted for a permanent replacement. Executive search firm Spencer Stuart has been hired to search for a CFO.

Gangwani will remain available to Napster after his last day to help with the transition, the company said. Napster shares closed regular trading at $2.36, unchanged from Friday's closing price.
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