Spotify Shakes Up Leadership: Daniel Ek Steps Down as CEO, Co-CEOs Appointed Amid Artist Protests

Spotify has announced a significant leadership restructuring, with co-founder Daniel Ek stepping down from his role as Chief Executive Officer, effective January. The global music streaming giant will transition to a co-CEO model, elevating Chief Product and Technology Officer Gustav Söderström and Chief Business Officer Alex Norström to lead the company. Ek will remain engaged as executive chairman, focusing on long-term strategy and capital allocation.

The announcement, made on September 30th, closely follows mounting pressure from artists who have been withdrawing their music from the platform. Indie rock bands and major acts like Massive Attack and Sylvan Esso have protested Ek’s venture capital firm, Prima Materia, for its investment of over $700 million into Helsing, a German startup developing military technology. Artists have cited moral and ethical objections to their creative work potentially funding what they describe as ‘lethal, dystopian technology’.

Ek clarified that the leadership change formalizes existing operations, stating that Söderström and Norström have largely managed daily operations and strategic direction for years. In his new capacity as executive chairman, Ek aims to focus on the company’s long-term vision and contribute to his broader goal of fostering more European ‘supercompanies’. This leadership shift comes as Spotify navigates continued growth, having achieved its first full year of profitability last year, alongside increasing scrutiny from its artist community.

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