Spotify names new co-CEOs as founder Ek transitions to chairman role

The news: Music streaming platform Spotify said on Tuesday that the company’s co-founder Daniel Ek is stepping down from his role as CEO and will be replaced by Gustav Söderström and Alex Norström.

The context: A statement from the company says that Söderström, chief product and technology officer and Norström, chief business officer, will jointly take the reins at the company from 1 January 2026. Söderström and Norström will report to Ek and will serve on the company’s board of directors.

As executive chairman, Ek’s role will more closely reflect a European chairman setup, Spotify’s statement says, where he will determine capital allocation, map the long term future of Spotify and continue to provide support and guidance to its senior team.

“ 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,” Ek said in the written statement.