Daniel Ek to Step Aside as Spotify CEO to Become Executive Chairman

Daniel Ek, the founder of the global audio-streaming giant Spotify, will step down from his position as Chief Executive Officer. According to a corporate announcement made on Tuesday, Ek will transition to the role of executive chairman effective January 1, 2026. At that time, the company's leadership will be shared by Gustav Söderström and Alex Norström, who are currently co-presidents and will become co-CEOs. Söderström, the chief product and technology officer, and Norström, the chief business officer, have been jointly steering the company's core strategy and operations since 2023. This move essentially codifies a leadership structure that has already been functioning effectively for some time.

In his new capacity, Ek will embrace the responsibilities of a "European chairman," a role that typically focuses on long-term vision, major capital allocation choices, and mentoring senior leaders. This shift represents a natural progression for the 42-year-old founder, who has been gradually stepping back from day-to-day management. Ek, who started his entrepreneurial journey early, previously founded the online advertising firm Advertigo, which was later sold to Tradedoubler. He also held senior roles at Tradera, a Nordic auction site that was eventually acquired by eBay, before launching Spotify in 2006 and joining its board in 2008.

Woody Marshall, Spotify’s lead independent director, expressed the board’s full support for the co-CEO model. He confirmed that the board has worked closely with Ek for years to plan this succession and has complete confidence in Söderström and Norström, both of whom bring over 15 years of experience and have been instrumental in the company's growth. Marshall also emphasized the board's satisfaction that Ek will remain actively involved, offering strategic guidance rooted in his founder's perspective. Some industry analysts view this dual-leadership model as a strategic response to a complex competitive environment. As one media analyst noted, "This structure can help balance immediate operational demands with long-term innovation, which is vital as Spotify competes with deep-pocketed rivals like Apple Music and Amazon Music."

The incoming co-CEOs released a joint statement affirming their readiness for the new roles, pointing to their nearly three years of effective collaboration as co-presidents. They stressed that their focus has been—and will remain—on delivering the most engaging user experience possible. While each brings a distinct expertise to the role, they share a commitment to decisive leadership and look forward to advancing the company with Ek’s ongoing support. This well-planned transition is designed to ensure continuity for Spotify, a platform that now serves over 700 million users globally and continues to grow its footprint across music, podcasting, and the rapidly expanding audiobook sector.