Spotify founder Daniel Ek has announced that he will step down as CEO in January 2026 after twenty years at the helm of the company.
Ek will become executive chairman of the board, while co-presidents Alex Norström and Gustav Söderström will take over as co-CEOs. Ek said he will focus on strategy, investments and regulatory affairs, while remaining actively involved in the company's development.
Nordström is currently responsible for Spotify's business direction, while Söderström leads product and technology development. The board notes that both have more than 15 years of experience at the company and have long been influential in its success.
At the same time, Ek plans to focus more on his other projects. His investment company Prima Materia invested €600 million in German drone manufacturer Helsing in 2024, where he took over as chairman of the board. Ek explained that modern wars are shaped around artificial intelligence and autonomous systems.
However, the investment in military technology has drawn criticism. Several bands, including King Gizzard & the Lizard Wizard, Massive Attack, Godspeed You! Black Emperor, and Deerhoof, have removed their catalogs from the platform. Deerhoof members have stated that they do not want their music to indirectly support the development of military technology.