Spotify Founder and CEO Daniel Ek has declared his intention to step down from his position and become the company’s Executive Chairman starting January 1, 2026.
In his new role, Ek will concentrate on long-term strategy, capital allocation, and guidance led by founders.
Spotify announced that Gustav Söderström, the Chief Product and Technology Officer, along with Alex Norström, the Chief Business Officer, will take on co-CEO responsibilities.
In a letter to shareholders, Ek stated, “So, with full confidence in Gustav and Alex, on January 1, 2026, I will move to Executive Chairman, and Gustav and Alex will become our co-CEOs and they will also join our Board of Directors (with approval from shareholders).”
Ek explained, “Why now? Because Alex and Gustav have clearly demonstrated that, with the support of this remarkable team, they are ready to lead Spotify as co-CEOs. And because you all have stepped up, I can confidently step back from the day-to-day… We couldn’t be better positioned. And to be clear, I’m not leaving. I’ll remain deeply involved in the big, defining decisions about our future, partnering with Gustav and Alex as they lead the way forward.”
Spotify shares fell 4% following Ek’s announcement.
Read our exclusive interview with Spotify Founder and CEO, Daniel Ek
By CEO NA Editorial Staff
