According to reports, the high-ranking executive parted ways with TIDAL in March.
Jay Z’s Tidal is in the midst of another executive change: Jeff Toig, who became the streaming service’s CEO 18 months ago, has left the company, Tidal confirmed on Friday. “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. “We wish former CEO, Jeffrey Toig, all the best in his future endeavors.” Billboard was first to report the news on Friday, noting that Toig had left the company in March. (Variety)
Toig reportedly joined forces with TIDAL after a two-year run with streaming service Soundcloud.
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.” (Billboard)
The music executive marks the third CEO which has packed bags in the last 24 months.
This is the third CEO Tidal has let go in the last two years, following the departures of Andy Chen and interim boss Peter Tonstad. In a statement to The Verge, Tidal says it will announce a new CEO soon. “As part of TIDAL’s continued expansion this year we will be announcing a new CEO in the coming weeks. We wish former CEO, Jeffrey Toig, all the best in his future endeavors.” (The Verge)
Last month, reports surfaced about Jay allegedly removing his music from some of TIDAL’s streaming competition.
All of Jay-Z’s solo albums have been removed from the Apple Music and Spotify streaming services. According to a statement made to the Verge by Spotify, the removal came “at the request of the artist.” Jay-Z’s solo work is also almost entirely absent from Amazon Music’s streaming catalog, with just four tracks from mixtapes offered. (Fortune)