Spotify’s founder and CEO Daniel Ek is stepping down

Spotify founder Daniel Ek announced on Tuesday that he will step down as CEO of the music streaming giant by the end of the year. After nearly two decades leading the company, Ek will transition into the role of executive chairman, focusing on Spotify’s long-term strategy and vision.

Spotify will now be led by two co-CEOs, both long-time executives at the company — Gustav Söderström, currently co-president and chief product and technology officer, and Alex Norström, co-president and chief business officer.

“Over the last few years, I’ve turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav — who have shaped the company from our earliest days and are now more than ready to guide our next phase,” Ek said in a statement. “This change simply matches titles to how we already operate. In my role as Executive Chairman, I will focus on the long arc of the company and keep the Board and our co-CEOs deeply connected through my engagement.”

In a post on X, Ek also highlighted that Spotify has been profitable for over a year, marking a milestone in its evolution from a scrappy startup to a global tech leader.

An update from me 👇 pic.twitter.com/xc0w3BWWAO — Daniel Ek (@eldsjal) September 30, 2025

Ek, who founded Spotify in 2006, has been synonymous with the company’s rise to become the world’s leading music streaming service. His departure as CEO marks the end of an era, but he will remain actively involved in shaping Spotify’s long-term goals.

Beyond Spotify, Ek has expanded his entrepreneurial footprint. In 2018, he co-founded Neko Health, a body-scanning health tech startup that raised $260 million in Series B funding earlier this year at a $1.8 billion valuation. He also runs Prima Materia, an investment company he launched in 2021 with Spotify investor Shakil Khan.