Two Heads, One Throne: Spotify Taps Söderström and Norström for Co-CEO Role

Spotify is adopting a new leadership model, announcing that founder Daniel Ek will step down as CEO to be succeeded by a pair of co-CEOs. This pivotal change sees Ek, the architect of modern music streaming, transition into an active role as the company’s executive chairman.
The new co-CEOs, effective January 1st, are Gustav Söderström (chief product and technology officer) and Alex Norström (chief business officer). Both are internal veterans who currently serve as co-presidents and have been largely responsible for driving the company’s strategic development and day-to-day operations for some time.
Ek explained the move as an alignment of titles with reality. “This change simply matches titles to how we already operate,” he said, noting he had already delegated a significant part of the management responsibilities to the incoming duo. This formalizes a power structure that has been in place since 2023.
As executive chair, Ek will not be stepping away from the action. He defined his future contributions as focusing on the “long arc,” which includes keeping Spotify at the cutting edge of technology like AI and spearheading its entry into new global markets where streaming is still in its infancy. He stressed the role is an active one, unlike what some investors might expect from a “US perspective.”
Under this new dual-leadership structure, Spotify aims to continue the remarkable growth that has seen it amass over 700 million subscribers. Ek’s shift allows him to focus on the big picture, ensuring the company’s long-term dominance while his trusted lieutenants manage the execution.