Spotify has named 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 rise to $313.07 the next day.

Luiga, who comes from Swedish defense company Saab where he served as CFO and deputy CEO, will take over the position in Q3 2024. During the transition period, VP of financial planning and analysis Ben Kung will serve as interim CFO until Luiga's arrival, which will be no later than October 3rd.

The appointment follows Vogel's departure announcement in December 2023, with CEO Daniel Ek stating that "Spotify is entering a new phase and needs a CFO with a different mix of experiences." Vogel, who joined Spotify in 2016 and became CFO in 2020, oversaw the company's expansion into podcasts, audiobooks, live programming, and games.

Notably, Luiga has existing connections to Spotify's ecosystem through Saab's partnership with Helsing, an AI defense operation backed by Ek's Prima Materia investment firm. This appointment also strengthens the Swedish presence in Spotify's senior management, joining CEO Daniel Ek, CHRO Katarina Berg, CBO Alex Norström, and CTO Gustav Söderström.

The announcement comes as Spotify plans to increase its prices in several markets by the end of April, contributing to the company's recent stock price surge and renewed focus on profitability.

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