SPOTIFY CONFIRMS CARTER DEPARTURE,
HOLMSTÉN AS SUCCESSOR

Spotify is at last confirming the worst-kept secret in music—the exit of Troy Carter as head of Creator Services—and sharing that Nick Holmstén will step into the role when Carter moves into a purely advisory capacity in September. Holmstén, currently head of the Shows and Editorial Team, will retain those duties as well.

The streamery furnished the following quotes from Spot boss Daniel Ek and Carter after they finished compiling a playlist of gushy love songs.

"By all measures, Troy has made a tremendous impact at Spotify," said Ek. "When he joined our team, there was skepticism from the artist community on streaming overall. Troy has been instrumental in changing that perception and his efforts to establish true partnerships across the industry will be felt for years to come. He’s built a very capable, global team that embodies an artist-first approach and this philosophy has been adopted across Spotify. We are in an excellent position to build on the momentum we’ve established well into the future."

"I came to this company to help bridge the gap between Spotify and the creative community," Carter declared. "Over time, that goal evolved from fixing a challenge to building a global team focused on changing the game for artists around the world, partnering with them to help bring their creative visions to life in new and innovative ways. I’m very proud of what we’ve achieved but with so much accomplished, it was the right time to move out of the day-to-day into an advisory role. The knowledge, relationships and personal experiences will remain with me and I know that this talented team is committed to continuing this important work."

Spotify stock (NYSE:SPOT) is currently trading at $177.72 after opening at $187.70; it hit an all-time high of $198.99 last week.