TIDAL Fires COO, CFO Amid Executive Shakeup, Consolidation
TIDAL continues to undergo changes at the top as it tries to find concrete footing in the ever changing and evolving streaming business. The Jay Z-helmed service confirmed that it has fired two of its top executives, its CFO Chris Hart and COO Nils Juell in an attempt to try and consolidate its business.
The departures were first reported by Norwegian newspaper Dagens Næringsliv and Swedish site Breakit. In a statement to Billboard, the streaming service explained that it is moving its top brass out of Oslo, Norway, where the company was founded and is moving to its US headquarters in New York City.
"Tidal has terminated CFO Chris Hart and COO Nils Juell," the statement reads. "As Tidal has grown into a global operation serving 46 countries we have moved our accounting and operations team to New York while our technology team and key support staff remain in Oslo."
This is the latest major shakeup at the top for TIDAL since its major rebranding last March. It has gone through three CEOs in that time, the latest an executive from SoundCloud, Jeff Toig, who took the reins from interim CEO Peter Tonstad in December.
The move reportedly came after Toig evaluated the talent on his staff and wanted to consolidate his team in New York with his new people.
Both Hart and Juell had survived the various higher-level executive purges of 2015, but did not survive this round.
TIDAL has had a mix of success lately with the high-profile launches of Kanye West's The Life of Pablo and Rihanna's Anti, though both were a bit messy from the outset. It is currently embroiled in a $5 million lawsuit over alleged unpaid royalty payments, which the company denies and has since cut ties with the plaintiffs.