Daniel Ek steps down as Spotify CEO, read his note to all employees explaining his decision

Here is Ek's note to all Spotify employees explaining his decision:

Team, 

In the Spotify of today, all eyes (and ears) are on us. There’s not much we do that goes unnoticed. But that wasn’t always the case. In a small makeshift office in Riddargatan, Stockholm, a few of us set out to solve what felt like an impossible idea: to make every song available instantly, legally, in a product people love. Fast forward almost 20 years later and that “impossible idea” has become a platform that is used by almost three-quarters of a billion people around the globe. We’ve helped reshape an industry that is not only growing again, but reaching new heights.

I don’t often pause to reflect because looking ahead has always been my instinct. But I’m incredibly proud of what we’ve created together—a beloved user experience, a business that thrives, and a team that continues to raise the bar. A huge amount of credit goes to Alex and Gustav, who have led with skill, vision and conviction. They have proven themselves again and again, and I believe they are ready for what’s next.

So, with full confidence in Gustav and Alex, on January 1, 2026, I will move to Executive Chairman, and Gustav and Alex will become our co-CEOs and they will also join our Board of Directors (with approval from shareholders).

I have always thought about roles as missions. At Spotify, I have had about nine missions while keeping the same title. In the early days, I assembled furniture and negotiated our first deals. I ran finance, I led product and then I led sales and then marketing. I have held roles and done jobs across most teams here. This is simply my next mission. My title changes—but my commitment and belief in what we’re building does not.

For most of you, very little will change. Spotify has a strong leadership team in place and a solid plan we are executing against. That’s not changing. What changes is my time and focus. As Executive Chairman, I will spend more of my time on the long arc: strategy, capital allocation, regulatory efforts and the calls that will shape the next decade for Spotify. Gustav and Alex will continue to report to me and we will work closely together with our Board of Directors. This approach reflects a European Chairman setup, which is quite different from a traditional U.S. one that many of you might be familiar with. This also means I will be more hands on than some of my U.S. peers who have a Chairman title. 

Why now? Because Alex and Gustav have clearly demonstrated that, with the support of this remarkable team, they are ready to lead Spotify as co-CEOs. And because you all have stepped up, I can confidently step back from the day-to-day. Together, we’ve shown the world that Spotify is not only a great product but also a great business—delivering our first full year of profitability in company history. We couldn’t be better positioned. And to be clear, I’m not leaving. I’ll remain deeply involved in the big, defining decisions about our future, partnering with Gustav and Alex as they lead the way forward.

A personal note on what’s next for me. I am often asked, “How do we build more Spotifys out of Europe?” That’s why several years ago, I announced my intention to help create more of these supercompanies—companies that are developing new technologies to tackle some of the biggest challenges of our time. I’ll share more about how I’ll put some of my builder energy there. But today is about Spotify.

Thank you for two extraordinary decades. Thank you for your belief in making impossible ideas possible, and for allowing me the greatest privilege of a lifetime. Let’s keep going—harder, better, faster, stronger. 

– Daniel