Daniel Ek, the founder of Spotify, will step down as CEO by the end of 2025 and assume the role of executive chairman. He will focus on the company’s long-term strategy, while co-presidents Gustav Söderström and Alex Norström will take over as joint CEOs.
“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,” Ek said.
“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,” he added.
Ek also noted on X that Spotify has been profitable for over a year, highlighting its strong financial position amid rising competition.
Since launching Spotify in 2006, Ek has led its growth into a global streaming service with over 500 million users. Besides Spotify, he co-founded health tech startup Neko, which recently raised $260 million at a $1.8 billion valuation, and manages investment firm Prima Materia, launched in 2021 with Spotify investor Shakil Khan.
This leadership change allows Ek to concentrate on Spotify’s future vision, while Söderström and Norström handle daily operations, continuing the company’s innovation in audio streaming and content expansion.