While Jay Z’s busy calling subscribers thanking them for their Tidal subscription, Tidal CEO Andy Chen is bailing.
Chen, along with 25 other people, have reportedly left the company due to ‘streamlining.’
via Business Insider:
Now, Tidal has confirmed that CEO Andy Chen is leaving the company, and will be replaced by its former CEO, Peter Tonstad. However, a Tidal representative dismissed reports that 25 staff were leaving the company as “incorrect,” instead categorizing the departures as “redundancies” and “streamlining.”
Here’s a statement from Tidal on Chen’s departure:
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.
There’s nothing wrong with a little re-shuffling…that’s business!