"Ek's role will more closely reflect a European Chairman setup, where he will determine capital allocation, map the long term future of Spotify and continue to provide support and guidance to its senior team."
"Over the last few years, I've turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav-who have shaped the company from our earliest days and are now more than ready to guide our next phase. This change simply matches titles to how we already operate."
Daniel Ek will step aside as Spotify CEO and assume the role of Executive Chairman on January 1. Alex Norström and Gustav Söderström will become co-CEOs and co-Presidents and will join the board. Söderström will serve as Co-President and Chief Product and Technology Officer, while Norström will serve as Co-President and Chief Business Officer. Norström and Söderström will report directly to Ek. The co-presidents will lead strategic development and operational execution of the company. The reorganization formalizes an existing distribution of day-to-day management and strategic direction within the company.
Read at RAIN News
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