(Reuters) -Spotify's founder-CEO Daniel Ek will become executive chairman in January, the Swedish music streaming company said on Tuesday as it named longtime executives Gustav Soderstrom and Alex Norstrom as co-CEOs. Ek, who has served on Spotify's board since 2008, will focus on capital allocation and long-term strategy in what the company called a European-style chairman role. Here are five key facts about Spotify's new co-CEOs:GUSTAV SODERSTROM* Soderstrom holds a Master of Science degree in electrical engineering and data communications from Stockholm's KTH Royal Institute of Technology. ALEX NORSTROM* Norstrom holds a Master of Science degree in business and economics from the Stockholm School of Economics. * He joined Spotify in 2011, after serving as chief new business officer at King.com, the company behind Candy Crush.