Spotify is set to undergo a major leadership shift at the start of 2026. The streaming giant announced Monday that founder and Chief Executive Officer Daniel Ek will move into the role of Executive Chairman, while longtime company executives Gustav Söderström and Alex Norström will serve as co-CEOs.
The move formalizes a structure that has quietly been in place since 2023, when Söderström and Norström took on the co-president roles and began leading day-to-day strategy and operations. Both will also join Spotify’s Board of Directors, pending shareholder approval, and will report directly to Ek.
“I always believed that Spotify could play an important role in revolutionizing listening around the world. 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.”
For Ek, who launched Spotify in 2006 and has grown the platform to more than 700 million users worldwide. The new role marks a shift toward long-term strategy. His position will resemble a European-style chairman, where he will focus on capital allocation, future planning, and guiding senior leadership.
Woody Marshall, Spotify’s lead independent director, emphasized that the board has been preparing for this moment. “We have tremendous confidence in Alex and Gustav as they step into these roles,” Marshall said. “They each have more than fifteen years with the company and have been instrumental in driving our success and enabling Spotify to lead our industry. We are also thrilled that Daniel will be actively involved. Giving Spotify both founder-led strategic stewardship and mentorship to the co-CEOs as the company continues to innovate and scale.”
Both incoming co-CEOs have been with the company since its early days. Söderström has overseen product and technology, while Norström has managed business operations. In a joint statement, they said their partnership is built on complementary skills and a shared vision.
“Nearly three years ago, when we stepped into our role as co-Presidents, we charged our teams with relentlessly focusing on building the best and most valuable experience available anywhere and that ambition hasn’t changed,” they said. “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.”
The leadership changes will officially take effect Jan. 1, 2026.
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