"They are also set to join the company's board of directors, pending shareholder approval. The company likened Ek's new role to that of a European company's chair, with power to determine capital allocation, plot Spotify's long-term direction, and support the senior team. The change, Spotify added, formalizes how it has operated since 2023, "with the co-presidents largely leading strategic development and operational execution of Spotify.""
"Daniel Ek will step aside as Spotify's chief executive officer in January to become executive chair, the streaming giant announced today (September 30). In his own statement, Ek, who founded Spotify in 2006, stressed that he has already "turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav" and that the "change simply matches titles to how we already operate.""
"None of the statements made reference to recent controversy surrounding Ek's investment in the weapons contractor Helsing, which has prompted an exodus of artists from the platform including Hotline TNT, Godspeed You! Black Emperor, King Gizzard & the Lizard Wizard, Xiu Xiu, Deerhoof, Deradoorian, and-if they succeed in pulling their music- Massive Attack."
Daniel Ek will step aside as Spotify's chief executive officer and become executive chair effective January 1, 2026. Gustav Söderström and Alex Norström will become co-CEOs, reporting to Ek, and are set to join the company's board pending shareholder approval. The executive chair role carries authority over capital allocation, plotting long-term direction, and supporting the senior team. Spotify said the change formalizes how leadership has operated since 2023, with co-presidents leading strategic development and operational execution. None of the statements referenced controversy around Ek's investment in weapons contractor Helsing, which prompted an exodus of several artists from the platform.
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