Chairman Martin Lorenstzon Exits Spotify

Martin Lorentzon

Martin Lorentzon, the exec who co-founded Spotify with Daniel Ek ten years ago, is stepping down from his position as Chairman, according to Music Business Worldwide.

Lorentzon is relinquishing his role, with CEO Ek taking his place – presumably to become Chairman & CEO.

The news comes just over a month after we learned that both Spotify’s Chief Revenue Officer, Jeff Levick, and top global sales exec Jonathan Forster were also departing.

Daniel Ek

Lorentzon will remain on the board of Spotify in a Vice-Chairman role.

He said on Twitter: “I’m looking forward to another 10 years at Spotify as vice-chairman… walking and talking with Daniel daily.”

Spotify is expected to attempt to launch an IPO in the second half of next year.

Some believe that the business is transitioning its management base from the Nordics to its New York HQ, and that Lorentzon’s departure fits with this narrative.

Another major personnel change at Spotify came in June, when it hired former Atom Factory boss and Lady Gaga manager Troy Carter as Global Head of Creator Services.