Spotify CEO Daniel Ek to transition to executive chairman role as of January 1, 2026. Shares dropped 5% in premarket trading. Co-CEOs Söderström and Norström to lead day-to-day operations. Restructuring follows business model overhaul, price hikes, and layoffs to drive profitability. Q2 revenue €4.19 billion, with robust user growth but pressure on ads and margins.

Ek remains confident in long-term strategy despite Q2 earnings miss. Monthly active users up 11% to 696 million, premium subscribers up 12% to 276 million. Gross margins at 31.5% in Q2, expected to decline further. Ek emphasizes focus on lifetime value over short-term performance.2025 expected to be a standout year for Spotify.

Read more at Yahoo Finance: Spotify stock drops after Daniel Ek says he’ll step down as CEO in 2026