For Third Time In Two Years, Jay Z’s Tidal Service Needs A New CEO

The chief executive position at Tidal continues to be a revolving door. The streaming service’s former CEO, Jeff Toig, has left his post, making him the third person to leave that role over the past two years.

Toig, who came to Tidal from Soundcloud, arrived in December 2015 at the streaming service co-owned by rapper and mogul Jay Z. At that point, Toig served as the replacement for Peter Tonstad, who himself had been an interim hire after Andy Chen stepped down as Tidal’s CEO in April 2015.

“As part of Tidal’s continued expansion this year we will be announcing a new CEO in the coming weeks,” reads a statement from the company. “We wish former CEO, Jeffrey Toig, all the best in his future endeavors.”

Whoever takes over Tidal’s top role will have to figure out the role video plays in the company’s future. Like competitors Spotify and Apple Music, Tidal — which prides itself on the high technical quality of the content it offers — has dabbled in original programming by rolling out shows like No Small Talk.

Financially, Tidal (which costs at least $9.99 per month for subscribers) reported big losses last year, but it also recently received a big influx of capital thanks to a deal with Sprint. Therefore, we should have no ideal what to expect out of the mercurial streaming service, but it’s clear that whomever comes on as its CEO will have plenty of work to do.