"doing an amazing job."
"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."
Daniel Ek, Spotify co-founder and longtime CEO, will step down next year and assume the role of executive chairman. Gustav Söderström and Alex Norström, Spotify co-presidents since 2023, will become co-CEOs on Jan. 1. Spotify has grown to more than 700 million users and expanded beyond music into podcasts and audiobooks, maintaining a major office in downtown Los Angeles. Ek said Spotify has been profitable for more than a year and praised the co-presidents for key contributions such as audiobooks and scaling video podcasts. Spotify has faced artist controversies, including protests over royalties and Ek's investment ties to a defense company; the company paid over $10 billion to the music industry in 2024. Ek will focus on strategy and capital allocation as executive chairman.
Read at Los Angeles Times
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