Following the loss of their third CEO, Jeff Toig, back in March, Tidal has landed a new CEO, which is their fourth in just over two years. According to Variety, former president of Kobalt Music Group, Richard Sanders, is now the new CEO of the streaming service.

While Toig had previously been CEO of Tidal since 2015, reports say Sanders departed from Kobalt back in May, coming five years after his time with the music group, leading him to join JAY-Z's company. He has an extensive history in the music business, having previously been the president of global marketing at Sony Music, as well having held executive positions at RCA and Arista Records.

If you recall, at the top of the year, Sprint acquired a 33% stake in Tidal, leading to Sprint CEO Marcelo Claure joining Tidal’s board. Claure has been working closely with JAY-Z, as well as Desiree Perez, to manage the streaming service during its transitions between leadership over the past months.

So far, Tidal has not released an official statement on Sanders joining the company, but we can expect details on the transition soon.

Tidal has had a big summer season as it is, being that JAY-Z's 4:44 album was released back in June exclusively to Tidal subscribers. Hov's 13th studio project also reached platinum status within the first week of its debut.

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