Spotify founder Daniel Ek to step aside as chief executive

Spotify founder Daniel Ek is to leave the role of chief executive and hand the top position to two deputies at the music streaming giant.

Mr Ek will shift from the role to become executive chairman from January 1.

It comes after a raft of artists pulled their music catalogues from Spotify in protest at the founder’s investment in a German military drone company.

Massive Attack pulled their music from the platform earlier this month due to Mr Ek’s investment vehicle leading a major funding round for military AI firm Helsing.

On Tuesday, Spotify said that Gustav Soderstrom, co-president and chief product and technology officer, and Alex Norstrom, co-president and chief business officer, will become co-chief executives from next year.

They will however report to Mr Ek following the leadership shake-up.

Mr Ek founded Spotify in 2008 and led its rapid expansion to become a service for more than 276 million subscribers across 184 markets.

“I always believed that Spotify could play an important role in revolutionising listening around the world, and with more than 700 million users, we’ve truly charted a new course bringing creativity to every corner of the globe,” he said.

“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.”

Woody Marshall, lead independent director of Spotify’s board, said: “The board has been working closely with Daniel on the evolution of Spotify’s leadership structure for several years.

“We have tremendous confidence in Alex and Gustav as they step into these roles.”