Spotify founder Daniel Ek will step down as CEO at year-end and become executive chairman. Co-CEOs Gustav Soderstrom and Alex Norstrom will succeed him. Succession brings risk, but both new CEOs have long tenures with Spotify. The transition mirrors Netflix’s success with founder succession. Spotify remains dominant but overvalued at $480 fair value estimate.

Read more at Morningstar: CEO Transition Doesn’t Change Our Forecast