Spotify founder Daniel Ek will transition from chief executive to executive chairman, effective January 1, as the streaming platform restructures its leadership. Chief Product and Technology Officer Gustav Söderström and Chief Business Officer Alex Norström will assume co-CEO positions, reporting directly to Ek. The Stockholm company said the arrangement formalizes operations that began in 2023 when the pair took control of strategy and daily management.
Ek built Spotify two decades ago into a platform with more than 700 million subscribers accessing 100 million songs, as well as millions of podcasts and audiobooks. The announcement triggered a 3 percent drop in premarket share prices, despite stock values having doubled over the past year. The founder stated he had already delegated most strategic direction and operational duties to the incoming co-chief executives.
Ek built Spotify two decades ago into a platform with more than 700 million subscribers accessing 100 million songs, as well as millions of podcasts and audiobooks. The announcement triggered a 3 percent drop in premarket share prices, despite stock values having doubled over the past year. The founder stated he had already delegated most strategic direction and operational duties to the incoming co-chief executives.
