Overview

• Effective January 1, 2026, Gustav Söderström and Alex Norström will become co-CEOs, reporting to Ek and joining the board subject to shareholder approval.
• The change formalizes a structure used since 2023, with the co-presidents leading strategic development and day-to-day operations.
• Söderström oversees product and technology, while Norström runs the subscriber, advertising, and content businesses, and both have more than 15 years at Spotify.
• Spotify shares fell as much as about 5% in premarket trading after the announcement.
• The leadership update comes as Spotify touts 696 million monthly users and 276 million subscribers, recent profitability gains, and ongoing artist protests tied to Ek’s investment in defense tech firm Helsing.