TIDAL just sacked its CEO along with 25 employees.
TIDAL hasn't exactly gotten off to a blazing start. It took another image hit Friday when Swedish news site Breakit broke the news that Andy Chen, CEO of TIDAL's parent company Aspiro, was forced out along with 25 other employees.
Aspiro, which Jay-Z acquired last month for a cool $56 million, released the following statement:
“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 released the following personal statement to 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."