Spotify’s founder and long-time CEO Daniel Ek is stepping down from his role, the company announced on Tuesday. By the end of 2025, Ek will transition to the position of executive chairman, marking a significant leadership change at the music streaming giant he founded in 2006.
Taking his place are Gustav Söderström, co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer, who will serve as co-CEOs. Both leaders have been with Spotify since its early years and have played pivotal roles in shaping the platform’s growth and strategy.
“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,” Ek said in a statement. “This change simply matches titles to how we already operate. In my role as Executive Chairman, I will focus on the long arc of the company and keep the Board and our co-CEOs deeply connected through my engagement.”
Ek, who also highlighted on X (formerly Twitter) that Spotify has remained profitable for more than a year, has been at the helm of the company for nearly two decades.
Outside Spotify, Ek co-founded health-tech startup Neko in 2018, which secured $260 million in Series B funding at a $1.8 billion valuation earlier this year. He also leads an investment firm, Prima Materia, launched in 2021 alongside Spotify investor Shakil Khan.
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The leadership transition underscores Spotify’s maturation as a company while ensuring Ek remains closely tied to its future direction.
