The waters are looking rough for Tidal, with its interim CEO, Peter Tonstad, let go by the company this week.
Tonstad had taken on the role of ‘interim CEO’ a little over two months ago but has now reportedly been pushed out.
Also, The Wall Street Journal says that the company “will be run by executives in New York and Oslo until a new chief is in place.”
Tidal’s previous CEO, Andy Chen, left the company in April abruptly just after it launched to the public.
Despite the music service’s exclusives from artists like Madonna and Nicki Minaj, the service has failed to gain traction and faces increasing competition with Apple Music launching next week.
Update: Tidal gave TNW this statement regarding Tonstand:
“We can confirm interim CEO Peter Tonstad is no longer with the company. We are thankful to Peter for stepping in as interim CEO and wish him the best for the future. TIDAL will be transitioning to a permanent CEO as part of our strategic plan to create a leading platform, and current executives in New York and Oslo will continue to lead our rapidly developing innovation and content initiatives until our new CEO is in place.