Music streaming giant Spotify said on Tuesday that its founder, Daniel EK, is leaving posts as CEOs and will become the working president of the company by the end of the year.
The company is replacing EK with two co-CEOs selected at home: Gustav Soderstrom, Co-Chairman, and Center Products and Technology Officer; And Alex Norstrom, Co-Speaker and Chief Business Officer.
A statement said in a statement, “Over the years, in the last few years, I have changed the strategic direction of day-to-day management and Spotify to Alex and Gustav-which has shaped the company since early days and is now ready to guide our next stage.” “This change only matches the title of how we already work. In my role as an executive chairman, I will focus on the long arc of the company and will be deeply connected to the board and our co-CEO through their engagement.”
In a post on X, EK also mentioned that Spotify is profitable for more than a year.
EK has served as the CEO of Spotify as he established it in 2006, so this is a major change in the leadership lead to streaming giants.
EK also co-established in 2018 A body scanning health startup called nekoWho gathered $ 260 million in series B funding A $ 1.8 billion later money evaluation earlier this year. He also runs an investment company called Prima Materia, Which he established in 2021 Spotify with investor Shakeel Khan.
