1.2033926-1146052928
FILE- IN this Nov. 4, 2016, file photo, Jay Z performs during a campaign rally for Democratic presidential candidate Hillary Clinton in Cleveland. Austin City Limits organizers announced Thursday, May 4, 2017, that Jay Z will perform at the festival in October. Jay Z will also perform during his Made in America festival in Philadelphia over Memorial Day weekend. (AP Photo/Matt Rourke, File) Image Credit: AP

Jay Z’s Tidal streaming service has lost its third CEO in two years.

Tidal said on Friday that Jeffrey Toig has left the company, which was launched in 2015. Toig joined Tidal in January 2016.

The streaming service said in a statement that it will announce a new CEO “in the coming weeks” and wishes Toig “all the best in his future endeavours.”

Tidal is also co-owned by Beyonce, Madonna, Rihanna, Kanye West and other artists. Sprint announced in January it was buying a 33 per cent stake in Tidal, which has more than 40 million songs and 140,000 videos. It is available in more than 52 countries.

Tidal’s former CEOs include Peter Tonstad and Andy Chen.