Overview

• Ek will hand day-to-day control to Gustav Söderström and Alex Norström, who become co-CEOs effective January 1, 2026.
• As executive chairman, Ek will focus on long-term strategy, capital allocation and leading the board.
• Spotify said the announcement codifies the governance model Söderström and Norström have effectively run since 2023.
• In Q2 2025 the company reported €4.19 billion in revenue and a net loss of €86 million, missing analyst expectations.
• Spotify reports about 696–700 million users, including roughly 276 million paid subscribers across 184 markets, as public criticism of Ek’s personal investments in defense technology persists and which the company says are separate from Spotify.