The long -standing Executive Director of Spotify Daniel Ek said on Tuesday that he was leaving his post next year and become the executive chairman.
EK became the co-founder of the Swedish audio company in 2006 and from the very beginning he served as the Director General.
His vision was to find a way to deal with musical piracy, offering a platform where consumers could pay to broadcast music.
Spotify grew to more than 700 million users and expanded to new categories outside the music, including podcasts and audiobooks. Spotify has a large office in the center of Los -angel.
Gustav Sederstre, chief product and technology employee; And Alex Norstrem, the main business director, who held the position of co-chairs of the company since 2023, will move on to co-artists on January 1.
In a video published on LinkedIn, EK said that it was a suitable time to make a transition leading, adding that Spotify was profitable for more than a year and that his co -authors “do an amazing job”. He noted that the leaders made a key contribution to the company, from audiobooks to scaling video podcasts.
“Over the past few years, I have transferred most of the daily management and strategic direction of Spotify to Alex and Gustav, who have formed the company from the earliest days and are now more than ready to send our next stage,” the EK statement said. “This change simply corresponds to the names with how we are already working.”
Under the leadership of EK Spotify, he withstood several disputes and protests from the artists.
Earlier this year, some musicians criticized EC for led a round of funding in the amount of almost 700 million dollars for HelSing defense company. Some artists pulled out their music from Spotify in protest.
While Spotify paid more than $ 10 billion in 2024 of the musical industry, Some artists complained that they do not collect enough money from the stream platform.
EC said that he would remain the executive chairman and focused on strategy, distribution of capital and regulation. Söderström and Norström will be reported to EK and work with the board of directors.
On Tuesday, Söderström said on Tuesday with investors that its main responsibilities are the product and technology, while Norström controls business, markets and maintenance.
“Alex is deeply interested and aware of the product, and I am very interested in business, so we manage this as the only team, our joint teams are together,” Sederetom said. “So, in practice, it will not change much from how we are managing companies.”
Spotify shares traded at 687.60 US dollars, which on Tuesday in the morning decreased by about 6%.
