Spotify co-founder Daniel Ek will step down as Chief Executive Officer at the end of this year and assume the role of Executive Chairman beginning January 1, 2026.
The company confirmed the leadership change on Tuesday, September 30, 2025, naming its co-presidents, Gustav Söderström and Alex Norström, as incoming co-Chief Executive Officers.
They will jointly oversee Spotify’s daily operations and report to Ek in his new capacity.
Ek, who launched Spotify in 2006 and has led it since its inception, said the decision reflects a transition that has already been taking place internally.
He explained that Söderström and Norström have been managing significant aspects of the business for some time, while his focus will now shift to long-term strategy, capital allocation, and regulatory engagement.
The leadership change comes as Spotify continues to expand its services beyond music into podcasts, audiobooks, and other audio content.
The company reported more than 600 million monthly active users and posted its first full-year profit in 2024.
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Market reaction to the announcement was immediate, with Spotify shares falling by about four percent in pre-market trading.
Analysts say investors will be closely watching how the co-CEO model performs as the company balances growth with profitability.
Ek will remain a central figure in Spotify’s strategic direction as Executive Chairman, a position that will allow him to concentrate on guiding the platform’s next phase of expansion while handing over day-to-day management to his successors.