Spotify announced a historic leadership shift on Wednesday, as founder Daniel Ek revealed plans to step down as CEO by the end of 2025, moving into an Executive Chairman role effective January 1, 2026.
After 20 years at the helm, Ek transitions to Executive Chairman as Spotify prepares for its next chapter.
The change represents one of the most significant leadership changes since the streaming giant’s founding in 2006, though it largely formalizes an operational structure that has been in place since 2023.
The company named two veteran executives as co-CEOs to succeed Ek: Gustav Söderström, currently co-President and Chief Product and Technology Officer, and Alex Norström, who serves as co-President and Chief Business Officer.
Both executives have been instrumental to Spotify‘s growth from its early stages and will be responsible for strategic development and day-to-day operations moving forward. They will report directly to Ek and join Spotify’s Board of Directors, pending shareholder approval.
Despite relinquishing the CEO title, Ek’s influence appears unlikely to diminish substantially. His new Executive Chairman role, modeled after European corporate governance structures, will focus on long-term company strategy and capital allocation decisions.
Ek will maintain a deep connection between the board and co-CEOs while providing ongoing guidance to senior management.
The leadership restructuring comes at a time of relative strength for Spotify, which has achieved over a year of profitability and now serves more than 700 million users worldwide.
The streaming service has expanded beyond music into podcasting and other audio content, cementing its position as an industry leader.
“This change recognizes how we’ve already been operating,” Ek noted in the announcement, emphasizing his continued commitment to Spotify’s global mission.
Beyond his work at Spotify, Ek has established himself as a serial entrepreneur, having co-founded Neko Health in 2018, a healthcare startup that recently secured substantial Series B funding.
The shared leadership approach between Söderström and Norström is designed to guide Spotify through its next growth phase while maintaining the innovative spirit that has defined the company. The platform continues to serve as a powerful launching pad for independent artists looking to build successful music careers without traditional label support.
For users and investors alike, the carefully orchestrated succession plan signals continuity rather than disruption, with Ek maintaining significant influence over Spotify’s future direction despite no longer holding the CEO title.
The company has been instrumental in revolutionizing how musicians earn through streaming royalties while opening new revenue opportunities for creators.
The Board of Directors expressed strong support for the transition, which has been in development for years, ensuring a smooth handover of responsibilities while building on the momentum created under Ek’s leadership.
