Well this can’t be good. Fresh off the heels of the announcement of Tidal, reports show that Andy Chen, the CEO of Aspiro Group (the parent company of Tidal), is out. Chen, as well as 25 other employees, are no longer employed by the company recently purchased by Jay-Z and 15 of today’s richest artists. In place of Chen is former Aspiro Group CEO Peter Tonstad, who according to Tidal’s statement “has a better understanding of the industry and a clear vision for how the company is looking to change the status quo.”
To the public it may not seem like things at Tidal are going very well if the CEO has already been replaced because he didn’t have good enough visions for the company, but according to Swedish news site Breakit, it was a necessary change. In order for Jay-Z and the share holders to take official control of Tidal, they had to remove the current board members, which would explain why so many employees no longer have jobs. Still, it’s not entirely clear if these staff members had prior knowledge or if they were forced out immediately alongside Chen. Either way, Tidal is not dwelling on the switch up, going on to say:
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.
And new CEO Peter Tonstad gave this 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 favourite artists. No one else is doing this.
Source: Business Insider