Spotify is undergoing its biggest leadership shift since its founding, with CEO Daniel Ek announcing that he will step down from the role by the end of the year. Ek, who launched the streaming company in 2006, will transition into the position of executive chairman, while day-to-day leadership will be taken over by two long-time insiders: Gustav Söderström, the company’s chief product and technology officer, and Alex Norström, its chief business officer. Both currently serve as co-presidents and will now become Spotify’s first co-CEOs.
An update from me pic.twitter.com/xc0w3BWWAO
— Daniel Ek (@eldsjal) September 30, 2025
In a statement, Ek said the change formalizes a structure that has already been in place for some time. “Over the last few years, I’ve turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav,” he said. “This change simply matches titles to how we already operate.” As executive chairman, Ek plans to focus on long-term strategy and strengthening ties between the board and the new leadership team.
Ek also highlighted that Spotify has been profitable for more than a year — a milestone for a company that has long been criticized for prioritizing growth over financial sustainability. Under his leadership, Spotify reshaped the music industry, moving streaming from niche technology to the dominant way people consume music worldwide. The company has since expanded into podcasts and audiobooks while facing mounting competition from Apple, Amazon, and YouTube.
Beyond Spotify, Ek has branched into other ventures. In 2018, he co-founded Neko, a health startup focused on body scanning technology, which earlier this year secured $260 million in funding at a $1.8 billion valuation. He also runs Prima Materia, an investment firm launched in 2021 with long-time Spotify backer Shakil Khan.
Ek’s move to executive chairman reflects a common path for founders looking to stay involved while passing operational control to others. For Spotify, the transition signals continuity, with its next chapter guided by two executives deeply tied to its product development and business growth from the beginning.
