Spotify is charting its future under a dual command structure, as the company announced founder Daniel Ek will step down as CEO. He will take on the strategic role of executive chairman, while two of his top executives, Gustav Söderström and Alex Norström, will be elevated to co-CEOs.
The new leadership structure will take effect on January 1st. Söderström, the current head of product and technology, and Norström, the head of business, have been serving as co-presidents and are credited with spearheading Spotify’s operational execution and strategic development since 2023.
The company has made it clear that this move is a formalization of an existing workflow. Daniel Ek explained that the promotion of Söderström and Norström is a recognition of the duties they have already undertaken, ensuring a stable and predictable transition for the streaming service.
As executive chairman, Ek will pivot to a role focused on the company’s long-term trajectory. He plans to be an active chair, guiding Spotify’s approach to new technologies like artificial intelligence and its expansion into untapped global markets, while also representing the company to key stakeholders.
This shift to a co-CEO model reflects a new chapter for Spotify, a company that has revolutionized the music industry under Ek’s singular leadership. The new structure aims to blend operational excellence with visionary foresight to maintain the company’s position as a leader in the global audio market.