Billboard is reporting that Tidal has lost it’s CEO, Jeff Toig. It’s the streaming service’s third CEO.
Jay Z’s music streaming service Tidal has confirmed the departure of Jeff Toig, its third chief executive in two years. “As part of Tidal’s continued expansion this year we will be announcing a new CEO in the coming weeks,” the company said in a statement to Billboard. “We wish [Toig] all the best in his future endeavors.”
Toig took over as CEO in January 2016 and has worked to stabilize the company after its shaky launch nine months earlier. He replaced interim CEO Peter Tonstad, who took over for Tidal’s original exec Andy Chen. In his announcement at the time, Jay Z called Toig a “leader at the intersection of consumer technology and entertainment for more than two decades.”