In a major power play, Spotify has announced a restructuring of its top leadership that sees founder Daniel Ek moving to the role of executive chairman. The move promotes two of his most powerful lieutenants, Gustav Söderström and Alex Norström, to the shared position of co-CEO.
The new power structure will be in place from January 1st. It solidifies the authority of Söderström, the head of product and technology, and Norström, the head of business, who as co-presidents have been the architects of the company’s strategic and operational dominance since 2023.
The company has stated that this is a formalization of the de facto power dynamic within the company. Ek confirmed that he had already delegated a significant amount of executive power to the pair, and this change simply makes their authority official.
From his new position as executive chairman, Ek will wield a different kind of power. He will focus on long-term strategic influence, guiding the company’s major moves in technology like AI and its expansion into new global markets, and acting as a powerful representative to governments and other key stakeholders.
This power play is a strategic move designed to strengthen Spotify’s leadership for the future. It creates a formidable team at the top, with clear lines of authority and a shared vision for maintaining the company’s position as a global leader in audio.