Spotify appoints two co-CEOs as Daniel Ek becomes executive chairman

Spotify founder Daniel Ek will step down as chief executive and become the companys executive chairman on Jan. 1, 2026, the streaming service announced on Tuesday, handing day to day leadership to two internal executives as it formalizes a management structure it says already exists. Gustav Söderström, currently co president and chief product and technology officer, and Alex Norström, co president and chief business officer, will serve as co chief executives and join the companys board.

Company officials said Ek will assume a role modeled on a European chairman, focusing on capital allocation, mapping Spotifys long term strategy and supporting the senior leadership team while keeping the board and coCEOs closely connected through his engagement. Ek said the shift "simply matches titles to how we already operate," and added that he intends to concentrate on the "long arc" of the company. In a separate post, Ek noted Spotify has been profitable for more than a year.

The move formalizes responsibilities that Söderström and Norström have increasingly assumed. The pair said in a joint statement that since becoming co presidents nearly three years ago they have directed teams to...