Company release statement confirming their former boss is no longer with the music service
Jay-Z‘s controversial Tidal streaming service has parted ways with the company’s current CEO Peter Tonstad.
Tonstad, who was serving as interim boss, was only appointed in April and replaced previous CEO Andy Chen, who was dismissed after just two weeks.
In a statement posted in the Wall Street Journal, the streaming service said: “We can confirm interim CEO Peter Tonstad is no longer with the company. We are thankful to Peter for stepping in as interim CEO and wish him the best for the future.
“Tidal will be transitioning to a permanent CEO as part of our strategic plan to create a leading platform, and current executives in New York and Oslo will continue to lead our rapidly developing innovation and content initiatives until our new CEO is in place.”
Tonstad, who was the company’s former CEO before Jay Z’s takeover, also added: “The only thing I can confirm is that I have resigned.”
Tidal has yet to confirm who will replace him in the near future.
His departure caps off a difficult period for the music streaming service which has been dogged by problems since its launch.
Their criticisms included suggestions that its model will only favour mainstream acts and that it’s little more than a vanity project.