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TIDAL Loses Second CEO in 3 Months

TIDAL, Jay Z’s music streaming service, has lost its second CEO in three months after Peter Tonstad was let go from the company on Tuesday, reports The Independent.

Tonstad replaced Andy Chen, who previously held the position, in April as interim CEO while the company searched for a permanent replacement. Executives in New York and Oslo will run the business while the search for a permanent CEO continues.

A TIDAL official told the Wall Street Journal: “We are thankful to Peter for stepping in as interim CEO and wish him the best for the future.”

Tonstad served as CEO of Aspiro, TIDAL’s parent company, which Jay Z purchased in March for $56 million.