Spotify has appointed Christian Luiga as its new Chief Financial Officer, following Paul Vogel's departure announced in December 2023. This announcement coincides with Spotify's shares reaching a new 52-week high of $313.07, closing at $310.31.

Luiga joins Spotify from Swedish defense company Saab, where he served as CFO and deputy CEO for nearly four years. The appointment aligns with CEO Daniel Ek's statement that "Spotify is entering a new phase and needs a CFO with a different mix of experiences."

Key Details:

• Luiga will start in Q3 2024
• Ben Kung, VP of financial planning and analysis, will serve as interim CFO
• Luiga will remain at Saab until October 3rd to ensure smooth transition

Notable Background:

• Luiga has existing connections to Spotify's ecosystem through Saab's partnership with Helsing, an AI defense operation backed by Daniel Ek
• He joins a predominantly Swedish senior management team, including CEO Daniel Ek, CHRO Katarina Berg, CBO Alex Norström, and CTO Gustav Söderström

The appointment comes as Spotify shifts focus toward profitability and plans price increases in several markets by April's end, marking a strategic pivot from its previous aggressive expansion into non-music audio content including podcasts, audiobooks, live programming, and games.

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