Spotify's founder-CEO Daniel Ek to become executive chairman

(Reuters) -Spotify said on Tuesday its founder-CEO Daniel Ek will shift to executive chairman role from January 1, while Gustav Soderstrom and Alex Norstrom will become co-CEOs. Shares of the company fell around 4% in premarket trading. The move formalizes a structure in place since 2023, with the co-presidents leading strategy and operations, the company said. Ek will focus on capital allocation and long-term strategy in a European-style chairman role. (Reporting by Jaspreet Singh in Bengaluru; Editing by Arun Koyyur)

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