Spotify announced a major leadership change set for January 1, 2026. Founder and CEO Daniel Ek will step aside as chief executive and become executive chairman.
The company revealed that co-presidents Gustav Soderstrom and Alex Norstrom will serve as co-CEOs. Soderstrom currently serves as chief product and technology officer, while Norstrom is chief business officer. Both will join Spotify’s board, subject to shareholder approval, and report directly to Ek.
Spotify explained the decision in a statement: “Formalize how Spotify has operated successfully since 2023, with the co-presidents essentially leading strategic development and operational execution of Spotify.”
As executive chairman, Ek will oversee capital allocation, long-term planning, and support for top executives.
Ek reflected on his journey with the company, “I always believed that Spotify could play an important role in revolutionising listening around the world, and with more than 700 million users, we’ve truly charted a new course bringing creativity to every corner of the globe.”
He continued: “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; who have shaped the company from our earliest days and are now more than ready to guide our next phase. This change simply matches titles to how we already operate. In my role as Executive Chairman, I will focus on the long arc of the company and keep the Board and our co-CEOs deeply connected through my engagement.”
Woody Marshall, Spotify’s lead independent director, confirmed that the board has been preparing the transition with Ek for years.
Soderstrom and Norstrom expressed excitement about their new roles.
In a joint statement, they said, “We have worked together for a very long time and have seen Spotify through many different chapters. While we bring different experiences and perspectives to the CEO role, we both have a strong bias to action and can’t wait to get started, knowing that we will have Daniel’s full partnership and ongoing support.”
Spotify also continues to expand globally. In March 2025, the company reported that Nigerian artists earned N58 billion from streams in 2024. That marked a 132% increase over 2023.
