"I always believed that Spotify could play an important role in revolutionizing listening around the world, and with more than 700 million users, we've truly charted a new course bringing creativity to every corner of the globe,"
"We've worked together a very long time and have seen Spotify through many different chapters,"
Daniel Ek will transition out of the CEO role at the end of the year and assume the role of chairman of the board, overseeing long-term strategy and capital allocation. Gustav Söderström and Alex Norström will become co-CEOs, with Söderström focused on product and technology and Norström on business. Spotify shares fell nearly 4% in premarket trading amid the announcement, though shares are up about 60% year-to-date after consistent user growth and the company’s first full profitable year in 2024. Spotify has almost 700 million users, 276 million subscribers, and has expanded into audiobooks and new product features like Mix mode.
Read at Fast Company
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