Daniel Ek is stepping down as Spotify CEO

Daniel Ek, the founder and CEO of Spotify, is transitioning to the role of executive chairman on January 1, 2023. The current Co-President and Chief Product and Technology Officer Gustav Söderström and Co-President and Chief Business Officer Alex Norström will become the new co-CEOs. Ek stated that he has been turning over a large part of the day-to-day management and strategic direction of Spotify to Söderström and Norström, who have been with the company since its early days. The change in leadership aligns with how the company has been operating. As executive chairman, Ek will focus on the long-term vision of the company and maintain a close connection with the board and the new co-CEOs. Ek also expressed his desire to help create more technology-driven "supercompanies" that address major challenges. The article also mentions Ek's recent $700 million investment in the defense tech firm Helsing, which has received some pushback from smaller artists and Massive Attack. Additionally, Spotify is facing challenges as more AI-generated music is making its way to the platform, though the company has made some policy changes to address this issue.