Core Insights - Spotify's founder and CEO Daniel Ek will transition to the role of executive chairman effective January 1, 2026, while Gustav Söderström and Alex Norström will take on co-CEO roles [1][2] - The leadership change aligns with the company's operational structure, as Söderström and Norström have been managing day-to-day operations since 2023 [2][3] - Spotify is undergoing a significant business model overhaul, focusing on profitability and AI-driven discovery, which has led to a near-doubling of its stock price over the past year [4][3] Financial Performance - In Q2, Spotify reported revenue of €4.19 billion ($4.86 billion), which was below the consensus estimate of €4.27 billion, and an adjusted loss of €0.42 ($0.49) per share [5] - User growth remains strong, with monthly active users increasing by 11% year-over-year to 696 million and premium subscribers rising by 12% to 276 million [6] - Despite the earnings miss, Ek expressed confidence in Spotify's long-term trajectory, anticipating 2025 to be a standout year as previous initiatives take effect [7]