Summary
Spotify founder Daniel Ek will step down as CEO at the end of the year. He will remain as executive chairman and focus on long-term strategy. His role as CEO will be taken over by his two deputies, Gustav Söderström and Alex Norström.
Key Facts
- Daniel Ek is the founder of Spotify and has been the CEO for nearly 20 years.
- Ek will step down as CEO but continue with Spotify as executive chairman.
- Gustav Söderström and Alex Norström will become co-CEOs.
- Spotify started in 2006 in Sweden to address music piracy.
- The company now has over 700 million monthly users worldwide.
- Ek's investments include a venture capital firm, and one of its backed companies, Helsing, is involved with AI weapons systems.
- Some artists have protested against Spotify's practices, especially Ek's investment in Helsing.
- Spotify's stock fell by over 4% after the announcement of Ek's decision.
