Spotify has named Christian Luiga as its new Chief Financial Officer, replacing Paul Vogel who departed on March 31st. 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.

Luiga comes 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 points about the transition:

• Ben Kung, VP of financial planning and analysis, will serve as interim CFO
• Luiga will start in Q3 2024, remaining with Saab until October 3rd
• Former CFO Paul Vogel had been with Spotify since 2016, serving as CFO from 2020

Notable connections:

• Luiga and Ek have existing ties through Helsing, an AI defense operation where Ek is co-chairman
• Saab, Luiga's current employer, is an investor in Helsing
• The appointment strengthens Swedish representation in Spotify's senior management, which includes CEO Daniel Ek, CHRO Katarina Berg, CBO Alex Norström, and CTO Gustav Söderström

The CFO change comes as Spotify shifts focus toward profitability and plans price increases across several markets by the end of April.

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