Spotify's Co-Founders Step Down: Söderström & Norström Named Co-CEOs
Spotify has announced a change in its top leadership. Co-founders Daniel Ek and Martin Lorentzon will step down from their roles, with Ek remaining as executive chairman. Two key executives, Gustav Söderström and Alex Norström, will become co-CEOs starting January 1, 2026.
The shift reflects the current operational structure of Spotify, where Ek has been delegating day-to-day management and strategic direction to Söderström and Norström for several years. Söderström, currently serving as Chief Product Officer and Chief Technology Officer, will now take on the additional role of CEO alongside Norström. The change comes as Spotify's market capitalization stands at $149 billion, with over 700 million users worldwide. Following the announcement, Spotify shares decreased by more than three percent in pre-market deals.
With the new leadership in place, Spotify looks to continue its growth and innovation. Ek will remain actively involved, focusing on long-term strategy and board engagement. The company's users and investors await the impact of this leadership change on the world's leading music streaming service.
