Overview

• Ek will transition on Jan. 1, 2026 to a European‑style executive chair focused on strategy, capital allocation and regulatory matters.
• Gustav Söderström and Alex Norström will become co‑CEOs, report to Ek and join the board pending shareholder approval.
• Spotify said the shift formalizes how it has operated since 2023, with the co‑presidents leading day‑to‑day strategy and execution.
• Shares fell about 3%–4% in premarket trading after the announcement, though the stock remains up for the year.
• Spotify reports nearly 700 million monthly users and posted its first full‑year profit in 2024, while facing artist pullouts over Ek’s Helsing investment.