Jay Z's Streaming Service Tidal Gets A New CEO

Exec Changes

ASPIRO CEO ANDY CHEN, who oversaw TIDAL, the Swedish music streaming company acquired by JAY Z in MARCH, has exited the company. BUSINESSINSIDER.COM writes, "reports of departures at TIDAL began yesterday on Swedish news site BREAKIT. It claimed that around 25 employees were given notice by the company and 'forced to leave'."

CHEN will be replaced by its former CEO, PETER TONSTAD.

TIDAL released a statement on CHEN's departure, writing "TIDAL’s new interum [sic] 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."

TONSTAD told BREAKIT, "I believe in TIDAL and what the team is doing to affect the change the music industry needs. We’re streamlining the company and refocusing our resources to ensure the platform continues to grow, and listeners can make a connection to their favorite artists. No one else is doing this."

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