Gustav Söderström and Alex Norström named co-CEOs starting January 2026.
Photo credit: Daniel Ek – Facebook
Spotify has announced that co-founder Daniel Ek will step down as CEO, transitioning to a newly created executive chairman role effective January 1, 2026. The move marks a major leadership shift for the streaming platform, with longtime executives Gustav Söderström and Alex Norström set to become co-CEOs. Both will report to Ek and join the board of directors.
The news was confirmed in a company press release issued on September 30th, and later addressed by Ek in a personal Instagram video. In the post, he emphasized that “the company is in a great place” and credited the transition to the performance and leadership of Söderström and Norström over recent years.
Despite Ek’s assurances, reports from Forbes suggest the decision is part of a broader shift in focus. Ek is said to be dedicating more time to Prima Materia — a $1 billion investment firm he launched in 2021 — and to Helsing, a German defense technology company where he serves as chairman.
Watch Ek’s full video below.
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