Spotify has announced that Daniel Ek, its founder and chief executive officer (CEO), will step down from his role and transition to executive chairman, effective January 1, 2026.
In a statement on the company’s website on Tuesday, Spotify said Gustav Soderstrom, co-president and chief product and technology officer, and Alex Norstrom, co-president and chief business officer, will become co-CEOs.
The two will report to Ek and will also join Spotify’s board, subject to shareholder approval.
Spotify said the move is to “formalise how Spotify has successfully operated since 2023, with the co-presidents essentially leading strategic development and operational execution of Spotify”.
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As executive chairman, Ek will focus on long-term planning, capital allocation, and supporting the company’s senior team.
“I always believed that Spotify could play an important role in revolutionising listening around the world, and with more than 700 million users, we’ve truly charted a new course bringing creativity to every corner of the globe,” Ek said.
“Over the last few years, I’ve turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav–who have shaped the company from our earliest days and are now more than ready to guide our next phase. This change simply matches titles to how we already operate. In my role as Executive Chairman, I will focus on the long arc of the company and keep the Board and our co-CEOs deeply connected through my engagement.”
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Woody Marshall, lead independent director of Spotify’s board, said the board had been working closely with Ek on the transition for several years.
“We have tremendous confidence in Alex and Gustav as they step into these roles. They each have more than fifteen years with the company and have been instrumental in driving our success and enabling Spotify to lead our industry,” Marshall said.
“We are also thrilled that Daniel will be actively involved, giving Spotify both founder-led strategic stewardship and mentorship to the co-CEOs as the company continues to innovate and scale.”
Soderstrom and Norstrom said they were eager to begin their new roles.
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“We’ve worked together a very long time and have seen Spotify through many different chapters,” they said in a joint statement.
“Nearly three years ago, when we stepped into our role as co-Presidents, we charged our teams with relentlessly focusing on building the best and most valuable experience available anywhere, and that ambition hasn’t changed.
“While we bring different experiences and perspectives to the CEO role, we both have a strong bias to action and can’t wait to get started, knowing that we will have Daniel’s full partnership and ongoing support.”
In March 2025, Spotify said Nigerian artistes earned N58 billion from its streaming platform in 2024 — 132 percent higher than in 2023.
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