\n<\/p>\n
Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chair.<\/p>\n
The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: chief product and technology officer Gustav S\u00f6derstr\u00f6m and chief business officer Alex Norstr\u00f6m. The pair, who are also currently copresidents, will transition into their new jobs on 1 January.<\/p>\n
Spotify said in a press release that the move \u201cformalizes\u201d how Spotify has been operating since 2023, with S\u00f6derstr\u00f6m and Norstr\u00f6m largely leading strategic development and operational execution.<\/p>\n
Ek said that he had already \u201cturned over a large part of the day-to-day management and strategic direction\u201d to the pair.<\/p>\n
\u201cThis change simply matches titles to how we already operate,\u201d he said. As executive chairman, Ek said he will focus on Spotify\u2019s \u201clong arc\u201d.<\/p>\n
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Privacy Notice: <\/strong>Newsletters may contain information about charities, online ads, and content funded by outside parties. If you do not have an account, we will create a guest account for you on theguardian.com to send you this newsletter. You can complete full registration at any time. For more information about how we use your data see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.<\/span><\/p>\n after newsletter promotion<\/p>\n In an online question and answer session following the announcement, Ek said his new role would not be a ceremonial one that investors with a \u201cUS perspective\u201d might expect.<\/p>\n In Europe, an executive chair is typically \u201cquite active in the business\u201d and acts as a representative to \u201ccertain stakeholders\u201d such as governments, he said.<\/p>\n Ek said he still sees growth opportunities, including a \u201chuge part of the world that\u2019s really not accustomed to streaming\u201d stretching from Asia to Africa, as well as new technology including artificial intelligence.<\/p>\n \u201cI\u2019m gonna keep pushing for us to look around the corner, stay focused on the long term,\u201d he said.<\/p>\n Since Ek founded Spotify about two decades ago, the platform\u2019s rise has helped transformed the music business and paved the way for modern streaming. Spotify now has more than 700 million subscribers and a library of more than 100m songs, 7m podcast titles and 350,000 audiobooks.<\/p>\n","protected":false},"excerpt":{"rendered":" Spotify said Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chair. The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: chief product and technology officer Gustav S\u00f6derstr\u00f6m and chief business officer Alex Norstr\u00f6m. The pair, who are also currently copresidents, will transition<\/p>\n","protected":false},"author":1,"featured_media":24918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[3277,9064,609,2272,5647,2020],"class_list":{"0":"post-24917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ceo","9":"tag-daniel","10":"tag-founder","11":"tag-role","12":"tag-spotify","13":"tag-steps"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/24917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24917"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/24917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/24918"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}