Andy Chen, CEO Of Jay Z's TIDAL Streaming Company Exits

Aspiro, the company Jay Z bought in March for $56 million to launch his new TIDAL streaming company is doing some in-house cleaning. The biggest domino to fall is former Aspiro CEO, Andy Chen.

Chen's departure was announced by TIDAL.

TIDAL’s new interim 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.

25 other employees have left the company due to "streamlining" and "redundancies," according to Business Insider.

Meanwhile, Jay Z is calling subscribers personally to thank them for signing up for TIDAL.

"He called some of his fans and one of them made the funniest comment. He said 'This is the best customer service call I've ever received!,'" Tidal executive Vania Schlogel told Business Insider.

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 favorite artists. No one else is doing this.



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