Swedish-based music streaming company Spotify has announced leadership changes.
In a statement yesterday, it said founder and chief executive officer Daniel Ek will transition to the role of executive chairman, effective 1 January 2026.
Gustav Söderström, co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer, will serve as co-chief executive officers.
The co-CEOs will report to Ek and will also be on the company’s board of directors, subject to shareholder approval.
According to Statista, the latest data suggests that market leader Spotify accounts for over 30% of global subscriber market share, keeping its closest competitors − Apple Music, Tencent Music and Amazon Music − largely at bay.
Spotify notes that the management evolution formalises how the streaming company has successfully operated since 2023, with the co-presidents leading strategic development and operational execution.
As executive chairman, it says, Ek’s role will more closely reflect a European chairman set-up, where he will determine capital allocation, map the long-term future of Spotify and continue to provide support and guidance to its senior team.
“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,” says Ek.
“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, lead independent director of Spotify’s board, says: “The board has been working closely with Daniel on the evolution of Spotify’s leadership structure for several years.
“We have tremendous confidence in Alex and Gustav as they step into these roles. They each have more than 15 years with the company and have been instrumental in driving our success and enabling Spotify to lead our industry. We are also thrilled that Daniel will be actively involved, giving Spotify both founder-led strategic stewardship and mentorship to the co-CEOs as the company continues to innovate and scale.”
The new co-CEOs say in a joint statement: “We’ve worked together a very long time and have seen Spotify through many different chapters. Nearly three years ago, when we stepped into our role as co-presidents, we charged our teams with relentlessly focusing on building the best and most valuable experience available anywhere and that ambition hasn’t changed.
“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.”
These changes will all be effective from 1 January 2026.
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