Swedish music streaming company Spotify announced that its longtime Chief Executive Officer Daniel Ek will step down at the end of this year.
Ek will take on the role of executive chairman from January onward. The company’s current two co-presidents, Gustav Söderström and Alex Norström, will take the helm as co-CEOs of one of Europe’s strongest technology brands.
Ek co-founded Spotify and grew the company into a cultural behemoth with more than 696 million users and 276 million subscribers worldwide.