Andy Chen, CEO of Tidal at parent company Aspiro Group in Norway, has left Tidal, spawning a search for the next CEO of the company.
Billboard reports that Aspiro’s former CEO, Peter Tonstad, will be serving as interim CEO of Tidal until a replacement is found. There were initial reports that about 25 employees would be laid off from Tidal, but a representative for the company says that number is “less than half” of what has been reported. The full statement from Tidal is below.
“Tidal’s new interim CEO is Peter Tonstad a former CEO of parent company Aspiro Group. He has a better understanding of the industry and a clear vision for how the company is looking to change the status quo. He’s streamlining resources to ensure talent is maximized to enhance the customer experience. We’ve eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies. Tidal”s offices globally will remain and grow: we are already hiring for several new positions now. We’re excited about our future and what’s in-store for fans who want the best listening experience.”
On March 30, Tidal re-launched as a private company, de-listed from NASDAQ in Stockholm and announced 16 artists as stakeholders in the company. Among the high-profile artists involved in Tidal is Jay-Z, who pulled his album Reasonable Doubt, from Spotify following the launch of Tidal. The company has seen its share of backlash, with Mumford & Sons and Ben Gibbard of Death Cab for Cutie and the Postal Service accusing Tidal of benefiting only artists who are already wealthy. In addition, Sprint distanced itself from Tidal by stating that they were partnering with the streaming service but had no financial investment or exclusive partnership there.
Leave a Comment