LOTS of changes over at TIDAL. I can’t tell if things are good or bad.
The latest news reveals that Andy Chen, CEO of Tidal, has left the company. Peter Tonstad, the former CEO, will serve as interim CEO while a replacement search commences. Tidal’s full statement 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.”
Since re-launching as a private company on March 30, Tidal has delisted from Nasdaq Stockholm and announced 16 artist stakeholders, including Jay Z, who led a $56 million takeover bid that was accepted by the board in late March. Tidal’s day-to-day U.S. operations have been led by Vania Schlogel, Roc Nation’s chief investment officer. That includes addressing backlash from critics, and helping corral recent exclusives from Rihanna, Beyonce and Jay Z.
My two-cents: Hmmm … things are shaking up there.
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