Luiga will be part of within the third quarter from Saab, the Swedish protection supplies group the place he was the finance chief and deputy CEO for about 4 years.
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Till his arrival, Ben Kung – Spotify’s vice chairman of economic planning and evaluation – would be the interim CFO.
The appointment comes as the corporate doubles down on efforts to enhance its profitability. It has laid off staff and elevated costs of its plans.
Spotify was planning to lift costs by between $1 and $2 a month in 5 markets together with the UK and Australia by the tip of April, Bloomberg Information reported on Wednesday, with a rise deliberate for U.S. later this 12 months.
That will comply with a worth hike of a couple of $1 final 12 months throughout a number of international locations together with the U.S.
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Spotify has additionally ventured into podcasts and audiobooks to develop its consumer base to 1 billion by 2030 and cut back its reliance on the music business. Luiga has a discover interval of six months and can keep till Oct. 3, Saab stated on Thursday.
(Reporting by Jaspreet Singh in Bengaluru; Enhancing by Varun H Ok and Sriraj Kalluvila)
