Jay-Z replaces entire board of directors in Tidal

Last week saw the first official changes for Swedish technology company Tidal after Jay-Z:s acquisition when CEO Andy Chen was replaced with his predecessor Peter Tonstad. Now the whole board of directors is being replaced as well.

Documents from Tidals parent company Aspiro Group that Rapidus has obtained shows that the current five man strong board of directors, headed by former majority owner Schibsted’s representative Trond Berger, is leaving the company. Instead, Tidal will be governed by a new board constituted of Lior Tibon, vice president of Jay-Z:s record label company Roc Nation, American attorney Katsambas Panagiotis and Florida-based tax consultant Kashyap Bakhai, who specializes in representing professional athletes and entertainment stars.

Tidal and the Aspiro Group employ 90-odd people in Norway, Denmark, Sweden, Poland and Germany. Rumors last week that the entire Swedish staff will be let go in the aftermath of Jay-Z:s acquisition has been denied in part by an official statement from Tidal, claiming that only “a handful” of positions are being eliminated in a process of streamlining the activities and cutting redundancies: “Tidal's offices globally will remain and grow: we are already hiring for several new positions now”, the statement reads.

Rapidus has reached out to Tidal for a comment on the new board of directors but have as yet not gotten any replies.



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