Tidal Gets (Another) New CEO in Former Kobalt Exec Richard Sanders
Former Kobalt Music Group president Richard Sanders is the new CEO of Tidal, the Jay-Z-owned music streaming service launched in 2015, sources confirm to Variety.
He is the fourth person to take the CEO title at Tidal in just over two years.
Jeff Toig left the company in March after a year and following a short-lived stint at Soundcloud, another embattled digital music service. Sanders left Kobalt in May, after five years at the company. Prior to that, he was president of global marketing for Sony Music and had also held executive posts at labels RCA and Arista Records.
In January, mobile phone service operator Sprint acquired a 33% stake in Tidal in January worth a reported $200 million.
Sprint CEO Marcelo Claure joined Tidal’s board as part of the acquisition, and a source close to the company told Variety that Claure, as well as Jay-Z and longtime confidant Desiree Perez, have been closely involved in the management of Tidal during the leadership transition.
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