Daniel Ek will step down as Spotify’s CEO at the end of the year, with Alex Norström and Gustav Söderström set to become co-CEOs in January 2026.
Spotify co-founder Daniel Ek, who helped bring the streaming platform from its humble beginnings in Stockholm to its current global scale, has announced that he will be stepping down as CEO at the end of the year.
Announced earlier today, this shift will mark a new chapter for Spotify as the company presses on into its next phase. Chief Product and Technology Officer Gustav Söderström and Chief Business Officer Alex Norström, who are currently serving as co-Presidents, will assume the roles of co-CEOs. Both will report to Daniel Ek, who is transitioning into the role of Executive Chairman, and will also serve on Spotify’s Board of Directors, pending shareholder approval.
“I always believed that Spotify could play an important role in revolutionizing 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,” said Daniel Ek.
According to Ek, a “large part of the day-to-day management and strategic direction of Spotify” was already passed off to Norström and Söderström over the past few years as Spotify began to evolve in its current direction. The new co-CEOs will guide the company into its next phase while Ek will continue to focus on the long arc of the company.
We’ve worked together [for] 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.
Alex Norström and Gustav Söderström
The news of Daniel Ek stepping down from his role as CEO arrives after controversy surfaced surrounding his business portfolio. Ek’s venture capital firm, Prima Materia, invested in German company Helsing, which develops military defense technology systems that utilize AI.
This investment has led to a boycott of the platform by many, with artists such as Massive Attack, Sylvan Esso, Xiu Xiu, King Gizzard & the Lizard Wizard, and more having removed their music in protest. These artists, and others like Thom Yorke of Radiohead, have also been critical of Spotify’s payment model over the years, with the investment in Helsing seen as a tipping point for their decision.
The boycott hasn’t impacted Spotify’s shares, which surged 100% over the past year with a market cap topping $150 billion. The platform currently hosts 700 million active users, with around 100 million songs available for streaming. Music isn’t the only audio-driven aspect of Spotify, as the company has also pushed into podcasts, news, audiobooks, and educational materials in recent years.
The changes to Spotify’s leadership will be effective on January 1, 2026.
