$SPOT CEO transition: First of all I think Daniel will go down in history as one of the best CEOs of the 2000s, especially given how different his management style is from the traditional tech CEO. In terms of the announcement today, I would have thought he had at least another ~5+ years left on the CEO role, so it did come as a surprise. Nevertheless, to any close followers of $SPOT, this move has been well thought-out and the seeds were being planted over the past few years. Alex and Gustav, now have worked together reporting to Daniel for 15+ years, were named co-Presidents in early 2023, clearly setting the stage for something bigger eventually. They also started participating in the last few earnings calls. Daniel has become more of a "coach" to them while letting them run the business with very clear, separate responsibilities (Alex - business, marketing, content; Gustav - product and tech) By all intents and purposes, Alex and Gustav were already running the day to day operations of the company while Daniel was more focused on long-term strategy and big picture (while being more involved with his other startups), so this transition to executive Chairman shouldn't change that much and is a natural evolution (also to be clear, European Chairmanship has more involvement/responsibility than US). Daniel should still be very much involved, as founder he has a huge stake in the company and effective control (along with co-founder Martin Lorentzon have 70%+ of the voting shares). $SPOT is his baby, and although he's officially handing on the reins to his two most trusted lieutenants, he will stay very close and I wouldn't expect him to sail over into the sunset. Congrats Daniel, Alex and Gustav.

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