Daniel Ek, the company’s co-founder and CEO since 2006, has announced that he will step down from his role as executive director starting January 2026. Although Ek will leave the CEO position, he will remain active on the company’s board as Executive Chairman.
Ek’s role will be taken over by two long-standing executives who have played key roles in Spotify’s decisions: Gustav Söderström and Alex Norström. They will jointly lead the company under a co-CEO model. Gustav Söderström currently serves as Chief Product and Technology Officer, while Alex Norström oversees Subscription, Advertising, Music, Podcast, and Audiobook Operations as Chief Business Officer. Both will join the board and report directly to Daniel Ek.
Daniel Ek has transformed Spotify into one of Europe’s most successful technology companies. In 2024, the company reported its first-ever annual net profit due to price increases and cost reductions. Ek described his decision to step down as a sign that Spotify is financially strong.
In his new role, Ek will focus on long-term strategy and investment management: “Spotify has been profitable for over a year. This shows that the company is in a healthy position. I will continue to play a role in making major decisions and defining the company’s strategic direction.”
Spotify’s adoption of a co-CEO model follows a management approach used by global giants like Oracle and Netflix. With this change, Spotify aims to accelerate growth in new markets such as podcasts and audiobooks while maintaining the company’s current profitability.
