"Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chair. The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: chief product and technology officer Gustav Soderstrom and chief business officer Alex Norstrom. The pair, who are also currently copresidents, will transition into their new jobs on 1 January."
"Spotify said in a press release that the move formalizes how Spotify has been operating since 2023, with Soderstrom and Norstrom largely leading strategic development and operational execution. Ek said that he had already turned over a large part of the day-to-day management and strategic direction to the pair. This change simply matches titles to how we already operate, he said. As executive chairman, Ek said he will focus on Spotify's long arc."
Daniel Ek will step down as Spotify CEO and become executive chair, with Gustav Soderstrom and Alex Norstrom assuming co-CEO roles on January 1. Soderstrom and Norstrom currently serve as copresidents and lead product, technology and business functions. The move formalizes an operational structure in place since 2023, with the two executives directing strategic development and operational execution. Ek has delegated substantial day-to-day management and strategic direction to them. As executive chair, Ek will concentrate on Spotify's long-term trajectory, external stakeholder relationships, and growth opportunities across under-penetrated regions and new technologies such as artificial intelligence.
Read at www.theguardian.com
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