Tidal: more executive shifts underway as CFO, COO are fired

Brittany A. Roston - Mar 1, 2016, 4:03 pm CST
Tidal: more executive shifts underway as CFO, COO are fired

Music service Tidal has given two of its top executives the boot in what is its latest restructuring effort. The company has let go of both Chief Operations Officer Nils Juell and Chief Financial Officer Chris Hart, citing a geographic change as the cause. Most of Tidal’s workers are based out of Oslo, but the company has decided to move its operations and accounting teams to New York instead.

Tidal, the Jay-Z-owned music streaming service that has been struggling to secure itself in a very crowded market, has seen three other top executives leave since its short rebirth following the Aspiro acquisition. Those three had left within the company’s first half year under Jay-Z’s ownership.

Both Hart and Juell had come to present-day Tidal from its pre-Jay-Z days. It isn’t clear who will be replacing the duo (nor whether there are already replacements in the pipeline). The company has not offered a public elaboration on the firings at this time.

Though Tidal has struggled during its time, the company has seen a boon in the form of exclusive content, most recently and prolifically being Kanye West’s latest album “The Life of Pablo.” The album was released only through Tidal, and analysts believe it was responsible for a large bit of recent growth among subscribers.

SOURCE: MarketWatch

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