Spotify's founder and CEO Daniel Ek is stepping down

Core Insights - Spotify's founder Daniel Ek is stepping down as CEO and will transition to the role of executive chairman by the end of the year [1][2] - The company will appoint two co-CEOs from within: Gustav Söderström and Alex Norström [1] - Ek has indicated that this leadership change aligns with the current operational structure of the company [2] Leadership Transition - Daniel Ek has been CEO since Spotify's founding in 2006, marking a significant leadership change for the company [3] - Ek has delegated much of the day-to-day management and strategic direction to Söderström and Norström over the past few years [2] - In his new role, Ek will focus on long-term company strategy and maintain close connections with the Board and co-CEOs [2] Company Performance - Spotify has been profitable for over a year, as stated by Ek [2] - Ek co-founded a health startup called Neko, which raised $260 million in Series B funding at a $1.8 billion post-money valuation earlier this year [3] - Ek also runs an investment company named Prima Materia, founded in 2021 [3]