Daniel Ek executive chairman

Daniel Ek, who will transition from Spotify CEO to executive chairman in January 2026. Photo Credit: Spotify

Daniel Ek is preparing to transition out of his role as Spotify CEO at the beginning of 2026, when co-presidents Gustav Söderström and Alex Norström will begin as co-CEOs.

Spotify revealed the executive-level shifts in a brief release today, and the relevant higher-ups also participated in a “leadership update call.” On January 1st, Ek will swap his CEO title for executive chairman, while Söderström (currently chief product and technology officer) and Norström (chief business officer) will become co-CEOs, the company said.

Nevertheless, the co-heads “will report to Daniel Ek,” Spotify indicated, further describing Ek’s new role as more closely reflecting “a European Chairman setup, where he will determine capital allocation, map the long term future of Spotify and continue to provide support and guidance to its senior team.”

“As executive chairman,” Ek elaborated during the call, “I’ll spend more time on the long-term strategic decisions that will define Spotify’s next decade. And as you consider this model, I will be more involved than a typical U.S. chairman. Think of it a little bit like moving from a player to a coach.

“I am still retaining an office here with Gustav and Alex sitting here, hopefully, you know, working on various types of problems with them,” Ek continued. “But with all that said, I do want to make it clear: This is really – they’re in charge, they’re the ones making decisions. But I will be there as a friend, a coach, a cheerleader, whatever I’m needed to do for the day in making this happen.”

Regarding the C-suite pivots’ timing, Ek chalked up the decision to the “natural evolution” of Norström’s and Söderström’s “exceptionally” strong results as co-presidents since 2023.

“So why now? Well, after more than 15 years of working together, Spotify is in its strongest position yet,” Ek communicated. “The business is solid, the model we’ve refined over many years is delivering, and thanks in large part to Alex and Gustav’s leadership, we’re better positioned than ever for what’s next.”

And in remarks of his own, Söderström underscored his and Norström’s collaborative approach as co-presidents; as co-CEOs, he emphasized, “Alex and I will have the same divisional responsibilities that we’ve had as co-presidents.”

Not mentioned in the comments: Ek’s sizable interest in AI defense company Helsing, which secured a close to $700 million raise in June.

It’s been years since the Stockholm native first backed the business, but multiple artists have criticized the military investments (and different factors) as of late when pulling their music from Spotify.

While the impact on Spotify’s bottom line remains to be seen, the exits have certainly made a media splash. Earlier in September, Helsing felt compelled to push back against “misinformation” that its tech “is deployed in war zones other than Ukraine.”

“This is not correct,” Helsing retorted. “Our technology is deployed to European countries for deterrence and for defence against the Russian aggression in Ukraine only.”

Separately, Ek is also the co-founder of preventative health company Neko Health, which in January confirmed a $260 million Series B. And as we broke down in detail, the 42-year-old sold hundreds of millions of dollars’ worth of Spotify stock (NYSE: SPOT) last year.

A couple closing notes: Söderström and Norström have also been nominated for board seats, and Ek during the call deferred to the co-presidents when asked whether he’d participate in earnings conferences during 2026 and beyond.

At the time of writing, Spotify stock was down 5.5% from opening at roughly $689 per share.