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Euronews
Euronews
AP with Euronews

Spotify founder Daniel Ek steps down as CEO, sending shares lower

Daniel Ek Spotify Alex Norström Gustav Söderström Universal Music Group

Spotify announced on Tuesday that founder Daniel Ek is stepping down as CEO to become the executive chairman, news that sent its shares sliding.

The Stockholm-based streaming giant said Ek will be replaced by two lieutenants who will become co-CEOs: chief product and technology officer Gustav Söderström and chief business officer Alex Norström.

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