Spotify has announced a major leadership shift set to take effect on Jan. 1, 2026, with founder and CEO Daniel Ek transitioning to the role of executive chairman, while current co-presidents Gustav Söderström and Alex Norström set to become co-CEOs.

Both will report to Ek and are expected to join Spotify’s board of directors, pending shareholder approval.

This move formalizes a leadership structure that has been in practice since 2023, Spotify said in its announcement Tuesday (Sept. 30), with Söderström and Norström already leading strategic and operational efforts. As executive chairman, Ek will focus on long-term strategy, capital allocation, and regulatory matters, adopting a European-style chairman role that remains actively involved in company direction.

Ek emphasized his confidence in the new leadership, noting in the announcement that both Söderström and Norström have been instrumental in Spotify’s growth since its early days. “This change simply matches titles to how we already operate,” Ek said. “I’ll remain deeply involved in shaping Spotify’s future.”

Woody Marshall, lead independent director of Spotify’s board, expressed strong support for the transition, citing the duo’s 15+ years of experience and their role in driving Spotify’s success. He also praised Ek’s continued involvement, which ensures founder-led strategic guidance.

In a joint statement, the incoming co-CEOs said they are excited to lead Spotify into its next chapter. “We bring different experiences and perspectives to the CEO role, but share a strong bias to action,” they said. “With Daniel’s ongoing support, we’re ready to build the most valuable experience in audio streaming.”

Spotify will host a live Q&A session today to discuss the transition. The company earlier this morning announced a new multi-year licensing deal with Merlin.

Ek also shared a personal message with employees, acquired by Billboard, reflecting on Spotify’s journey from a small startup in Stockholm to a global platform with nearly 700 million users. He described his new role as his “next mission,” allowing him to focus on broader strategic initiatives while remaining closely connected to the company.

Read Ek’s Letter to Employees:

Team,

In the Spotify of today, all eyes (and ears) are on us. There’s not much we do that goes unnoticed. But that wasn’t always the case. In a small makeshift office on Riddargatan in Stockholm, a few of us set out to solve what felt like an impossible idea: to make every song available instantly, legally, in a product people love.

Fast forward almost 20 years, and that “impossible idea” has become a platform used by nearly three-quarters of a billion people around the globe. We’ve helped reshape an industry that is not only growing again but reaching new heights.

I don’t often pause to reflect—looking ahead has always been my instinct. But I’m incredibly proud of what we’ve created together: a beloved user experience, a thriving business, and a team that continues to raise the bar. A huge amount of credit goes to Alex and Gustav, who have led with skill, vision, and conviction. They’ve proven themselves again and again, and I believe they’re ready for what’s next.

So, with full confidence in Gustav and Alex, on January 1, 2026, I will move to Executive Chairman, and they will become our co-CEOs. They will also join our Board of Directors, pending shareholder approval.

I’ve always thought about roles as missions. At Spotify, I’ve had about nine missions while keeping the same title. In the early days, I assembled furniture and negotiated our first deals. I ran finance, led product, then sales, then marketing. I’ve held roles across most teams here. This is simply my next mission. My title changes—but my commitment and belief in what we’re building does not.

For most of you, very little will change. Spotify has a strong leadership team and a solid plan we’re executing against. What changes is my time and focus. As Executive Chairman, I’ll spend more time on the long arc: strategy, capital allocation, regulatory efforts, and the calls that will shape the next decade. Gustav and Alex will continue to report to me, and we’ll work closely with our Board. This reflects a European Chairman setup—more hands-on than the traditional U.S. model.

Why now? Because Alex and Gustav have clearly demonstrated they’re ready to lead. And because you all have stepped up, I can confidently step back from the day-to-day. Together, we’ve shown the world that Spotify is not only a great product but also a great business—delivering our first full year of profitability in company history.

To be clear, I’m not leaving. I’ll remain deeply involved in the big, defining decisions about our future, partnering with Gustav and Alex as they lead the way forward.

A personal note: I’m often asked, “How do we build more Spotifys out of Europe?” That’s why I announced my intention to help create more supercompanies—those tackling the biggest challenges of our time. I’ll share more about that soon. But today is about Spotify.

Thank you for two extraordinary decades. Thank you for believing in impossible ideas—and for allowing me the greatest privilege of a lifetime.

Let’s keep going—harder, better, faster, stronger.

Daniel