Spotify Shakes Up Leadership: Daniel Ek Steps Back as Co-CEOs Take the Helm

On September 30, Spotify announced a significant evolution in its leadership structure, revealing a plan that will see founder and long-time CEO Daniel Ek transition to Executive Chairman. Effective January 1, 2026, the streaming giant will be led by a new pair of co-Chief Executive Officers: current co-Presidents Gustav Söderström and Alex Norström. This shakeup, according to the company, is less of a sudden change and more of a formalization of an operating model that has been successfully in place since 2023, positioning the company for its next chapter of growth.

Ek’s New Mission: The Long Arc

Ek’s new role as Executive Chairman is designed to reflect a “European chairman setup,” allowing him to shift his focus to the long-term vision of the company. In his own words, his mission will be to “focus on the long arc of the company” by determining capital allocation and mapping Spotify’s future over the next decade. Ek will remain deeply involved, offering support and guidance to the senior team. The change, he notes, “simply matches titles to how we already operate,” signaling a smooth continuation of strategy rather than a jarring pivot from the founder who once set out to solve what felt like an “impossible idea” in a small Stockholm office.

Promoting Two Proven Veterans

Stepping into the co-CEO roles are two Spotify veterans: Alex Norström (Chief Business Officer) and Gustav Söderström (Chief Product and Technology Officer). Both have worked with Ek for over 15 years, proving themselves ready to guide the company’s next phase. Woody Marshall, Lead Independent Director, voiced the board’s “tremendous confidence” in the new leaders, noting their instrumental role in Spotify’s success. Söderström and Norström, who will report directly to Ek, emphasized their “strong bias to action” and shared excitement about their new mission. They committed to relentlessly focusing on building the best experience for the platform’s more than 700 million users.

A Strategic Move for Continued Innovation

Ultimately, this leadership evolution is a strategic move designed to secure Spotify’s future while maintaining founder-led stewardship. By elevating two proven leaders to run the day-to-day operations, Daniel Ek is freeing himself to concentrate on high-level strategy and the ambitious goal of building more “supercompanies” out of Europe. The transition, set for 2026, positions Spotify for continued innovation and scale, with the company’s internal call to action ringing clear: “Let’s keep going – harder, better, faster, stronger.”