Spotify Names Co-CEOs as Daniel Ek Transitions to Chairman

Spotify, the music streaming giant, has announced a major leadership transition. Daniel Ek, the co-founder and longtime CEO, is stepping down from his role and transitioning to the position of Chairman. The company has named two co-CEOs to take over the reins: Alex Norström, who currently serves as Spotify's Chief Freemium Business Officer, and Gustav Söderström, the company's Chief Research & Development Officer. This move marks a significant shift in Spotify's leadership structure, as the company aims to navigate the evolving music streaming landscape. Ek, who has been at the helm of Spotify since its inception in 2006, will continue to play a strategic role as Chairman, while the new co-CEOs will be responsible for the day-to-day operations and decision-making. The announcement comes as Spotify continues to expand its global reach and explore new initiatives, including podcasting and audiobook integration. The transition is expected to provide a fresh perspective and strengthen Spotify's position in the competitive music streaming industry.