Spotify founder Daniel Ek to step down from CEO role
By Michele Maatouk
Date: Tuesday 30 Sep 2025
(Sharecast News) - US music streaming giant Spotify said on Tuesday that founder Daniel Ek will step down from his role as chief executive to become executive chairman with effect from 1 January 2026.
Spotify has appointed Gustav Söderström, co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer, as its co-chief executive officers.
They will report to Ek and will also serve on the company's board of directors subject to shareholder approval.
Spotify said this evolution formalises how it has "has successfully operated since 2023 with the co-presidents largely leading strategic development and operational execution of Spotify".
As executive chairman, Ek's role will more closely reflect a European chairman setup, it said, where he will determine capital allocation, map the long term future of the company and continue to provide support and guidance to its senior team.
Ek said: "I always believed that Spotify could play an important role in revolutionizing 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.
"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."
At 1645 BST, the shares were down 5.6% at $688.01.
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