Swedish audio streaming giant Spotify has recruited its new CFO from compatriot Saab, an aerospace and defense equipment manufacturer.
Prior to his arrival at Saab, Christian Luiga was previously CFO, then CEO, of Swedish telecommunications operator Telia.
In his new position, he will remain based in Sweden, with responsibility for financial planning and analysis, auditing, risk management, accounting, corporate development, tax and treasury.
His arrival is scheduled for the third quarter. In the meantime, Ben Kung, a long-time Spotify finance executive, will act as interim CFO.
Paul Vogel, the company's previous CFO, announced his departure from Spotify last December, due to his opposition to the company's cost-cutting program.
According to analysts, the appointment of a new CFO could pave the way for a more shareholder-friendly policy, for example via the launch of a share buyback plan.
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Spotify Technology SA a Luxembourg-based company, which offers digital music-streaming services. The Company enables users to discover new releases, which includes the latest singles and albums; playlists, which includes ready-made playlists put together by music fans and experts, and over millions of songs so that users can play their favorites, discover new tracks and build a personalized collection. Its users can either select Spotify Free, which includes only shuffle play or Spotify Premium, which encompasses a range of features, such as shuffle play, advertisement free, unlimited skips, listen offline, play any track and audio. The Company operates through a number of subsidiaries, including Spotify LTD and is present in over 20 countries. Its service offers a music listening experience without commercial breaks.
SPOTIFY TECHNOLOGY S.A. 
