Spotify co-founder Martin Lorentzon has stepped down from his role as chairman of the streaming music service. After 10 years in the position, Lorentzon is shifting to the board’s vice-chairman, with CEO Daniel Ek assuming the chairman spot. Spotify hasn’t issued an official reason for the shift. Just about any big move happening at Spotify, however, seems likely to be connected to its plans for a public offering. The company has been steadily working toward an IPO for many months, and the action is projected to happen some time next year.
The company has seen several changes among its top-level leadership in recent months. Long-standing sales VP Jonathan Forster and Chief Revenue Officer Jeff Levick both left this fall. On the additions side, though, Netflix chief content officer Ted Sarandos joined the board of directors. Spotify also launched in Japan and will have a Tokyo office led by Ichiro Tamaki.