Spotify Names New Co-CEOs as Daniel Ek Steps Down
Spotify has revealed a major leadership shift, with current CEO Daniel Ek stepping down and Alex Norström and Gustav Söderström taking over as Co-CEOs starting January 1, 2026. Ek, who has guided the company to tremendous success, will move to the role of Executive Chairman.
Ek, who established Spotify in 2006, has led the company's growth into a music streaming powerhouse with a market cap exceeding $150 billion and a stock price that has doubled in the past year. He will continue to play a vital role in the company's future as Executive Chairman, focusing on strategic development and long-term planning.
Woody Marshall, a member of Spotify's board, expressed confidence in the decision, citing the directors' 15-year observation of the work of the incoming Co-CEOs. Norström, currently Chief Business Officer, and Söderström, serving as Chief Product and Technology Officer, will assume their new roles while reporting to Ek and joining the board, subject to shareholder approval. Ek's personal wealth is estimated at $10.3 billion by Forbes.
The new leadership structure will see operational management fully transition to Norström and Söderström, with Ek continuing to support the leadership team in his new role. The changes aim to leverage the strengths of the incoming Co-CEOs and ensure Spotify's continued success in the competitive music streaming news.
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