Spotify has announced a major leadership shift with founder and Chief Executive Officer Daniel Ek set to transition to the role of Executive Chairman effective January 1, 2026.

The company confirmed that Gustav Söderström, currently co-President and Chief Product and Technology Officer, and Alex Norström, co-President and Chief Business Officer, will take charge as co-Chief Executive Officers. Both will report to Ek and join Spotify’s Board of Directors, subject to shareholder approval.

According to Spotify’s pressroom report, the change reflects the structure the company has been operating under since 2023, with the co-presidents already leading much of the strategic development and day-to-day execution. Ek, as Executive Chairman, will take on a role closer to a European-style Chairman, focusing on long-term capital allocation, the company’s future growth path and providing guidance to the senior leadership team.

“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,” Ek said. “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.”

Woody Marshall, Lead Independent Director of Spotify’s Board, added that the evolution of leadership had been under consideration for several years. He noted that both Norström and Söderström, with over 15 years at the company, have been instrumental in shaping Spotify’s success and driving innovation. “We are also thrilled that Daniel will be actively involved, giving Spotify both founder-led strategic stewardship and mentorship to the co-CEOs,” he said.

The incoming co-CEOs also shared their vision in a joint statement, stressing their long-standing collaboration and commitment to building the most valuable listening experience in the market. “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,” they said.

The leadership changes are scheduled to take effect on January 1, 2026.