Spotify Stock Drops As Founder & CEO Daniel Ek To Become Exe. Chairman; Names New Co-CEOs

Core Viewpoint - Spotify Technology S.A. announced a leadership transition, with Founder and CEO Daniel Ek moving to the role of Executive Chairman, effective January 1, 2026, while Gustav Sderstrm and Alex Norstrm will become co-CEOs [1][2][3] Leadership Changes - Daniel Ek will transition to Executive Chairman, reflecting a European chairman setup, focusing on capital allocation and long-term strategy [3] - Gustav Sderstrm and Alex Norstrm, both with over 15 years at Spotify, will take on the co-CEO roles, reporting to Ek and serving on the Board of Directors pending shareholder approval [2][4] Company Performance - Following the announcement, Spotify shares fell approximately 4 percent in pre-market trading, reaching $700.00 [1][4]