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The situation (and public slander) over at TIDAL appears to have stabilized since the last time Jay Z’s streaming service made big headlines but the company’s hierarchy ranks have been relatively shaky, just like the name TIDAL suggests.

In a surprise announcement yesterday (December 2), Jeff Toig was named as TIDAL’s third CEO–in just eight months of the music provider’s launch back in March. He succeeds two Chief Executive Officers in Andy Chen and interim CEO Peter Tonstad, as well as Chief Investment Officer Vania Schlogel (who quietly revealed she left the company in the summer), svp of artist and label relations Zena Burns and chief marketing officer Jeff Geisler.

If the third time will be the charm for TIDAL’s top dog, it won’t solely rest on the aspirations of luck or any related witchcraft. Toig’s background makes him the ideal candidate to run any streaming service in today’s digital landscape. The Harvard Business School graduate made a name for himself internationally as the Chief Business Officer of Soundcloud and was previously a founder and svp at Cricket Wireless’s Muve Music and a member of Virgin Mobile USA’s founding team.

During his inaugural interview with Billboard, he laid out his plan to take TIDAL to the championship bout against Spotify and Apple Music, once and for all.

“In terms of why I decided to take it, for me there were really three main reasons. At a high level, this was a great opportunity to do something differentiated here. Jay Z and the artist-owners are deeply committed to Tidal and the vision they have for the business.

Let me break each of those down. As I evaluated the business and the opportunity, Tidal has a really unique set of assets. It has exclusive content, deep connection with the artists — A-list artists — live events like Tidal X, and a unique set of assets. It’s early in the game, but the seeds have been planted and it creates a really fascinating foundation.

Second, through the interview process I was fortunate to spend quite a lot of time with Jay Z, learning more about his vision for Tidal and why he made such a significant investment in this business. It became clear to me that Jay and the artists behind the company are deeply committed to developing an amazing music experience for fans. I share a belief that this has been lost with many services, and it will be critical as we build Tidal into a leader in this space.

The third thing is the momentum. The company just launched six, seven months ago and it’s already grown to over a million subscribers. When you see a business like this gaining that kind of momentum, you start to think there’s something quite interesting happening. I’ve seen this before, and I’m intrigued by the growth and the potential the business has.”

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Photo: Future of Music Coalition