According to the Associated Press, TIDAL announced on Tuesday that interim CEO Peter Tonstad “is no longer with the company.” Tonstad gained the position in April after the departure of former CEO Andy Chen.
The staff switch-up is only one of the issues TIDAL executives are currently dealing with. The company faces competition from Apple and Spotify streaming services as artists sign on to release exclusive music to one of the three and fans look for a winner. A statement by the company suggests the competition may have caused Tonstad’s leave: “[TIDAL] will be transitioning to a permanent CEO as part of our strategic plan to create a leading platform.”
The company has yet to announce who the new CEO will be.
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