Key Takeaways

Spotify CEO Daniel Ek will step away from the CEO role on January 1 to become Executive Chairman.

Spotify co-Presidents Alex Norström and Gustav Söderström will become co-CEOs in Ek’s place.

Ek said that he would still remain involved in big-picture decisions at Spotify.

After co-founding audio streaming service Spotify and serving as its CEO for nearly two decades, Daniel Ek, 42, announced plans on Tuesday to step down from the CEO role.

Spotify revealed that Ek will transition to the position of Executive Chairman, effective January 1. As part of his new title, he will determine money allocation, plan Spotify’s long-term strategy, and provide the senior leadership team with support and guidance.

Alex Norström , Spotify’s co-President and Chief Business Officer, a

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