Spotify founder Daniel Ek steps down from CEO role

Company Leadership Changes - Founder Daniel Ek is stepping down as CEO to become the executive chair, with Gustav Söderström and Alex Norström appointed as co-CEOs effective January 1 [1][2] - The leadership transition formalizes the operational structure that has been in place since 2023, where Söderström and Norström have been leading strategic development and operational execution [2] Executive Chair Role - Ek emphasized that his new role as executive chair will not be ceremonial, as is often perceived in the US, but will involve active participation in the business and engagement with stakeholders [3] - The role will focus on long-term strategic goals and maintaining growth opportunities [3] Growth Opportunities - Ek identified significant growth potential in regions like Asia and Africa, where streaming is not yet widely adopted, as well as advancements in technology such as artificial intelligence [4] - The company aims to remain forward-looking and focused on long-term objectives [4] Company Overview - Since its founding nearly two decades ago, Spotify has transformed the music industry, boasting over 700 million subscribers and a library that includes more than 100 million songs, 7 million podcast titles, and 350,000 audiobooks [5]