(Reuters) -Spotify on Tuesday became the latest company to adopt a co-CEO structure, naming Gustav Soderstrom and Alex Norstrom to the top job as billionaire founder Daniel Ek takes on executive chairman role. Spotify’s founder-CEO Ek will take over the role of executive chairman from January 1 next year. Söderström, who is co-president and chief product & technology officer, leads global tech strategy and oversees product, design, data and engineering teams. The move formalizes a structure in place since 2023, with the co-presidents leading strategy and operations, Spotify said. Ek will focus on capital allocation and long-term strategy in a European-style chairman role, the company said.