Spotify has appointed Christian Luiga as its new Chief Financial Officer following Paul Vogel's departure. The announcement coincided with Spotify's stock (NYSE: SPOT) reaching a new 52-week high of $304 per share, followed by another increase to $313.07 the next day.

The leadership change comes as Spotify plans to increase prices in several markets by late April. Vogel, who joined Spotify in 2016 and became CFO in 2020, will depart on March 31st, 2024, after overseeing the company's expansion into podcasts, audiobooks, live programming, and games.

CEO Daniel Ek stated that Spotify needs "a CFO with a different mix of experiences" as the company enters a new phase focusing on profitability. Luiga brings extensive executive experience from Swedish defense company Saab, where he served as CFO and deputy CEO for nearly four years.

Notable connections exist between Ek and Luiga through Helsing, an AI defense operation where Ek is co-chairman and has invested €100 million through his Prima Materia investment firm. Saab, under Luiga's leadership, has partnered with Helsing on significant government contracts.

Luiga will join Spotify's predominantly Swedish senior management team, including:

• Daniel Ek (CEO)
• Katarina Berg (Chief HR Officer)
• Alex Norström (CBO)
• Gustav Söderström (CTO)

Ben Kung, VP of financial planning and analysis, will serve as interim CFO until Luiga assumes the role in Q3 2024. Saab has confirmed Luiga will remain with them until October 3rd to ensure a smooth transition.

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