Jay Z‘s Tidal has confirmed the departure of Jeff Toig, the music streaming service’s third chief executive in two years. “As part of Tidal’s continued expansion this year we will be announcing a new CEO in the coming weeks,” the company told Billboard in a statement. “We wish [Toig] all the best in his future endeavors.”
Toig became CEO in January of 2016, replacing interim CEO Peter Tonstad, who took over for Tidal’s original exec Andy Chen. Toig came to Tidal after serving as SoundCloud’s chief business officer for two years, and before that was the founder and senior vp of Muve Music, Cricket Wireless’ music service, and a founding member of the Virgin Mobile USA team. At the time of his appointment Hov called Toig a “leader at the intersection of consumer technology and entertainment for more than two decades.”
The reason behind his departure is unclear, but Billboard is reporting that he left Tidal March
