Overview

• Effective January 1, 2026, founder Daniel Ek will become executive chairman as Gustav Söderström and Alex Norström take over as co-CEOs.
• Gustav Söderström (chief product and technology officer) and Alex Norström (chief business officer) will report to Ek and join the board subject to shareholder approval.
• Ek says he is not leaving the company and characterizes his role as a European-style chair focused on long-term decisions and capital deployment.
• Spotify says the move codifies how it has operated since 2023, with the co-presidents leading strategy and day-to-day execution.
• Spotify shares fell roughly 3% to 5% in premarket trading after the announcement as investors weighed the uncommon co-CEO structure.