Spotify's Daniel Ek Steps Down; Norström & Söderström Named Co-CEOs

Effective January 1, 2026, Spotify founder Daniel Ek will transition from Chief Executive Officer to Executive Chairman, marking the end of his nearly two-decade tenure as CEO, according to a Forbes report. This planned leadership transition will see current Co-Presidents Alex Norström and Gustav Söderström elevated to the role of Co-CEOs. Ek, who co-founded Spotify in 2006, stated his readiness to shift his focus "from a player to a coach," indicating a strategic pivot towards long-term vision. Spotify previously expanded Norström and Söderström's responsibilities in 2023 by promoting them to Co-Presidents, a move designed to prepare them for their future executive roles. As Executive Chairman, Ek will concentrate on long-term strategy, significant capital allocation decisions, and key investments. Norström and Söderström, both veterans of Spotify for over a decade, bring complementary skill sets to their new positions. Norström's expertise lies in managing the business, marketing, and content divisions, while Söderström, an engineer, has focused on technology and product development. Spotify board member Woody Marshall expressed strong confidence in the change, stating, "We're very comfortable and confident that this is going to work out quite well...they are ready for the game." Ek has emphasized a complete transfer of operational control to the incoming leadership. "To be brutally clear, so that there's no doubt, they are going to run the company, they are the CEOs, they'll make the decisions," he stated, underscoring the new Co-CEOs' autonomy.