Jay Z's streaming service Tidal just lost another CEO

Peter Tonstad, the CEO of music streaming service Tidal, has left the company.

The Wall Street Journal reports that Tonstad has stepped down from his position less than three months after he became Tidal’s interim CEO.

Tidal’s previous CEO, Andy Chen, left the company in April, and Tonstad became the interim CEO while the company searched for a permanent replacement.

But now Tonstad has been let go by the company, and Tidal says it will be run by executives in New York and Oslo while it searches for another CEO.

Tonstad previously served as CEO of Aspiro, the parent company of Tidal, as well as streaming service WiMP. Rapper Jay Z acquired Aspiro in March after the company’s board accepted a $US56 million takeover offer. He rolled the company’s streaming services into one, putting Tidal CEO Andy Chen in charge.

This story is developing — refresh for updates.

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