Daniel Ek steps down as Spotify CEO and will become Executive Chairman on 1 January 2026, with long‑time executives Gustav Söderström and Alex Norström set to serve as co‑CEOs, Spotify announced. The move formalises an operating model in place since 2023, with the co‑presidents leading day‑to‑day strategy and execution while Ek focuses on long‑term direction.
Co‑CEOs to take over in January 2026
Spotify said that Gustav Söderström, currently Chief Product and Technology Officer, and Alex Norström, Chief Business Officer, will assume the co‑CEO roles from 1 January 2026, reporting to Ek.
Both are expected to join the Board of Directors, subject to shareholder approval. The company presented the shift as a continuity plan that aligns titles with how Spotify has operated in recent years.
Ek described his next position as reflecting a European executive chairman model. In practice, he will prioritise capital allocation, long‑term strategy and regulatory engagement, while maintaining a hands‑on relationship with senior management.
Spotify noted that Ek will remain closely involved in mapping the platform’s future across music, podcasts and audiobooks.
Market reaction and investor call
Following the announcement, Spotify’s shares dipped in early trading as investors assessed the new structure. The company scheduled a live Q&A with investors on 30 September to discuss the transition. Management framed the change as an evolution designed to sustain growth after years of expansion and product diversification.
What changes for users and creators
The leadership update is not expected to alter the user experience in the short term. Over the past three years, Spotify has expanded podcasts, rolled out audiobook features and adjusted pricing while sharpening its focus on product value.
With co‑CEOs overseeing business and technology, the company signals continuity on product roadmaps and monetisation, and a continued effort to balance growth with profitability.
Nordic and EU angle
Founded in Stockholm in 2006, Spotify remains one of Europe’s most visible tech scale‑ups. Ek’s shift to an executive chairman role underscores a governance approach more common in Europe than in the United States.
The handover to two Swedish co‑CEOs keeps leadership rooted in the Nordic tech ecosystem while the company navigates EU digital policy, competition rules and evolving content regulations.
What we still do not know
Spotify has not disclosed detailed targets for the first year under the co‑CEO structure. It is also unclear whether the governance change will lead to adjustments in reporting lines below the C‑suite or in product investment cadence. The company says it will offer further updates as the transition date approaches.
