Following the appointment of co-CEOs Gustav Söderström and Alex Norström, a senior Spotify executive has announced his departure.
David Kaefer, VP, music business, headed up the company’s music and audiobook businesses. He will leave at the end of the month after seven years at the streaming giant. Kaefer revealed his departure via a LinkedIn post and internal memo.
He led Spotify’s music licensing and partnerships, alongside the audiobook business that launched in 2022. Kaefer recently announced the $10 billion milestone for Spotify’s annual music industry payout.
Charlie Hellman, currently VP and global head of music product, will succeed Kaefer as SVP and global head of music. He joined Spotify in 2011 and was involved in the creation of improved recommendation and social features.
“After seven years, I’m moving on from Spotify and entering a new phase in my career,” wrote Kaefer. “I’ll be advising and investing in tech, media, and sustainability while working closer to home on the West Coast.
“I’m extremely grateful to Daniel Ek, Alex Norström, and Gustav Söderström for trusting me to lead Spotify’s music and audiobooks businesses. Also – thank you to a long-time mentor, Horacio Gutierrez, for recruiting me. I owe a huge debt to my bandmates for their friendship and tremendous work. I will miss you.”
PHOTO: Noam Galai/Getty Images
