Whether intentionally timed to coincide with International Podcast Day or not, today’s news from Spotify is that CEO Daniel Ek will step aside. He will be replaced, in a dual leadership arrangement, by Alex Norstrom and Gustav Soderstrom as co-CEOs. Each is also co-President. As if those titles weren’t enough, Soderstrom becomes Co-President and Chief Product and Technology Officer, while Norstrom becomes Co-President and Chief Business Officer.
Both will also join the board.
Ek isn’t going far. He remains involved, assuming the role of Executive Chairman, starting January 1. Norstrom and Soderstrom will report directly to Ek, and they will join the board. So, one might view this shuffle as an expansion of the board and a new distribution of leadership.
Spotify notes that the co-president will lead strategic development and operational execution of the company. And Daniel Ek? “Ek’s role will more closely reflect a European Chairman setup, where he will determine capital allocation, map the long term future of Spotify and continue to provide support and guidance to its senior team.”
The updated executive org chart reflects current reality in the company, Ek observes:
“Over the last few years, I’ve turned over a large part of the day-to-day management and strategic direction of Spotify to Alex and Gustav–who have shaped the company from our earliest days and are now more than ready to guide our next phase. This change simply matches titles to how we already operate.” — Daniel Ek, CEO, Spotify