Ek to Step Down as Spotify CEO in 2026

Spotify founder Daniel Ek will step down as CEO effective Jan. 1, 2026, and become executive chairman, handing day-to-day leadership to longtime lieutenants Gustav Söderström and Alex Norström, who will serve as co-CEOs, report to him and — pending shareholder approval — join the board. The company says the move formalizes how Spotify has operated since 2023 and frames the role as a European-style chairmanship that preserves Ek’s strategic influence; Ek will focus on long-term strategy, capital allocation and mentoring while remaining involved in major decisions. The transition comes as Spotify expands into podcasts and audiobooks, reported its first annual profit in 2024 after price increases and cost cuts, and continues to grow its user base into the hundreds of millions. The announcement briefly pushed the stock down in premarket trading and followed a mixed quarter that included surprising losses, weak guidance and ad softness, which analysts say create near-term headwinds despite long-term monetization opportunities.