Spotify CEO Steps Down After Nearly 20 Years
Updated on
Published on
Key Points
- Spotify co-founder Daniel Ek will step down as CEO in 2026, becoming executive chairman.
- Ek launched the company in 2006 to combat piracy and grew it to 700M users.
- Co-presidents Gustav Söderström and Alex Norström will take over as co-CEOs on Jan. 1.
- Ek will focus on long-term strategy, capital allocation, and regulatory issues.
Daniel Ek, the 42-year-old co-founder and face of Spotify since its launch in 2006, announced he will step down as CEO next year. He will shift into the role of executive chairman, handing day-to-day leadership to co-presidents Gustav Söderström and Alex Norström, who will officially become co-CEOs at the start of 2026.
Ek’s vision of tackling music piracy through legal streaming transformed Spotify into the world’s largest audio platform, boasting more than 700 million users and expanding beyond music into podcasts and audiobooks. Under his tenure, the company also navigated artist protests, AI controversies, and debates over payouts, while reaching consistent profitability.
In a statement, Ek said the transition reflects how the company has already been operating, with Söderström steering product and technology and Norström overseeing business and markets. Spotify stock dipped 4% after the news, closing at $698, as investors weighed the leadership change.
