Jay Z's music streaming service, Tidal, continues to go through its early growing pains, as it's been announced that the company has parted ways with its interim CEO, Peter Tonstad. “We are thankful to Peter for stepping in as interim CEO and wish him the best for the future,” a rep for Tidal told The Wall Street Journal.
Tonstad was in the position since April when the company's other former CEO, Andy Chen, stepped down from the job just about a month after the company was re-launched with its new platform. Tidal executives in Oslo and New York City will now run the day-to-day operations of the company while they search for a new CEO to take over, which will be Tidal's third CEO in only three months. Despite Jay Z's public assurances that that company is doing fine, they have had a number of issues since the re-launch in March, as they currently sit at just over 700,000 paid subscribers, with Apple Music and Spotify seemingly leading the way in the industry.