Spotify’s founder and CEO Daniel Ek is stepping down

Core Points - 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 been CEO since the company's founding in 2006, marking a significant leadership change [3] Leadership Transition - Ek has delegated much of the day-to-day management and strategic direction to Söderström and Norström over the past few years [2] - The change in leadership is intended to align titles with the current operational structure of the company [2] - Ek will focus on long-term company strategy and maintain close connections with the Board and co-CEOs in his new role [2] Company Performance - Spotify has been profitable for over a year, indicating a positive financial trajectory [2] - Ek co-founded a health startup, Neko, which raised $260 million in Series B funding at a $1.8 billion post-money valuation [3] - Ek also runs an investment company, Prima Materia, founded in 2021 [3]