In a landmark shift for the global music streaming giant, Spotify has announced that its founder and long-serving CEO, Daniel Ek, will step down from his executive role by the end of 2025. Effective January 1, 2026, Ek will transition to the position of Executive Chairman, marking a new chapter in the company’s leadership structure after nearly two decades at the helm.
Spotify will adopt a co-CEO model, appointing two seasoned internal leaders to jointly steer the company forward. Gustav Söderström, currently Co-President and Chief Product & Technology Officer, and Alex Norström, Co-President and Chief Business Officer, will assume the roles of co-Chief Executive Officers. Both executives have been instrumental in shaping Spotify’s strategic direction and operational execution since their appointment as co-presidents in 2023.
In a post on X, Daniel Ek also highlighted that Spotify has maintained profitability for over a year, signaling the company’s financial resilience and operational maturity.
Daniel Ek’s Vision for the Future
In a statement, Ek emphasized that the leadership change reflects the company’s existing operational reality:
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. 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 likened his transition to that of a sports player becoming a coach, signaling his intent to remain deeply involved in Spotify’s long-term strategy, capital allocation, and regulatory efforts.
Profiles of the Incoming Co-CEOs
- Gustav Söderström joined Spotify in 2009 and has led the company’s product and technology strategy. He oversees global teams across engineering, design, data, and product development.
- Alex Norström came on board in 2011 and has driven Spotify’s business growth, including its subscriber and advertising operations, as well as content across music, podcasts, and audiobooks.
In a joint statement, the duo expressed their readiness to lead:
We bring different experiences and perspectives to the CEO role, but share a strong bias to action. With Daniel’s ongoing support, we’re ready to build the most valuable experience in audio streaming.
Ek’s Broader Ventures
Beyond Spotify, Daniel Ek has been actively investing in transformative technologies. In 2018, he co-founded Neko Health, a body-scanning health tech startup focused on preventive care. Neko recently raised $260 million in Series B funding, reaching a $1.8 billion valuation, and is rapidly expanding across Europe.
Ek also co-founded Prima Materia in 2021 with early Spotify investor Shakil Khan. The investment firm backs deep-tech ventures tackling foundational societal challenges. Notably, Prima Materia led a €600 million Series D round for Helsing, a defense AI company developing battlefield decision-support systems and autonomous technologies.
