• Daniel Ek steps down as CEO of Spotify after nearly 20 years.
• Gustav Söderström and Alex Norström will assume co-CEO roles starting January 1, 2026.
• Ek will continue as executive chairman focusing on long-term strategy.
• The transition formalizes an operational change initiated in 2023.
• Artist criticisms regarding Spotify’s payment practices continue amidst leadership changes.

Spotify founder Daniel Ek has announced that he will step down as chief executive, transitioning to the role of executive chairman beginning January 1, 2026. This strategic leadership change will see co-presidents Gustav Söderström and Alex Norström take over as co-CEOs. Ek stated this transition simply reflects the company’s operational structure that has been in place since 2023, where Söderström and Norström have effectively guided the company’s management responsibilities according to BBC and India Times.

In his announcement, Ek emphasized the evolution of Spotify from a small startup to a giant in the audio marketplace, now boasting over 700 million users. He articulated his belief in Spotify's potential to revolutionize listening globally, while reflecting on the large part of daily operations he has already delegated to the new co-CEOs. He declared, "This change simply matches titles to how we already operate," underlining his ongoing engagement in the company’s strategy as he assumes the executive chairman post, as detailed by NPR and CBS News.

As executive chairman, Ek plans to focus on long-term strategic direction and capital allocation, reflecting a European approach to the role rather than a merely ceremonial position which U.S. firms generally associate with executive chairs. He expressed his commitment to the company's vision, stating there are significant growth opportunities in regions less acquainted with streaming, particularly in Asia and Africa. This commentary on potential expansion choices was supported by BBC and India Times.

Despite the optimism regarding Spotify’s future, the company currently faces increasing scrutiny and backlash from artists regarding payment practices, exacerbated by Ek's controversial investments. Criticism has emerged specifically towards his involvement in military technology with investments causing some artists to withdraw their music from the platform. Recently, major group Massive Attack and other artists like Deerhoof have protested, claiming that the financial model burdens creators integrity according to NPR and India Times.