Rabat – On Tuesday Spotify founder announced through a press release that he is to step down as CEO, effective January 1st. Ek will move to the role of executive chairman, leaving his seat to two incoming CEOs.
“I will be more involved than a typical US chairman. So think of it a little bit like moving from a player to a coach,” Ek said in his statement.
The Swedish company is strategically appointing the previous Chief of Product and Technology Officer (Gustav Soderstram) and previous Chief Business Officer (Alex Norstom) as co-CEOs. Both CEOs will work side by side – along with Ek’s future insights – to stay ahead of competitors. Norstom, Soderstam, and Ek have worked together for more than 15 years.
Daniel EK, along with the board of directors, trust Soderstram and Norstom as they have both significantly contributed to the company through the years – especially since they took on the role of presidents of the company in 2023. According to Ek, their ideas of integrating AI into mixing, audiobooks, and scaling video podcasts were major factors in the company’s profitability.
As Daniel Ek steps down as CEO, his focus will shift towards his other endeavors, notably his co-owned company Primea Materia.
