Peter Wells, co-founder of TuneCore has spoken out about the departure of his colleague and fellow co-founder, former CEO of the company Jeff Price.
Price left the company earlier this month, following the departure of Wells whose position was ‘dissolved’. No replacement has yet been made for the CEO position that Price held nor have details been revealed about new senior executives up to this point.
Speaking exclusively to Hypebot Wells revealed that he was asked to leave TuneCore in May. He said: “I left TuneCore on excellent terms: they were very happy with my work, there were handshakes all around. I was told my position was dissolved, that's all.
“I was extremely surprised. I was disappointed that no effort was made to find a place for me after my position was dissolved.”
Wells went on to explain that he was surprised and worried at the company’s decision to ask his co-founder Jeff Price to leave, describing him as “the heart and soul and brains of TuneCore.”
“With Jeff gone, I worry that TuneCore will lose that vision,” he said, also revealing he’s been left out of the company’s new plans “any satisfactory explanation as to why Jeff was asked to leave, nor have I been told who's running the company.”
Wells expressed his concern about the running of the company, as he still holds a considerable stake in the company: “If TuneCore changes its vision or its ethos, that's my name up there as co-founder, that's my investment being used, and that's my company losing its way.
“I don't want artists being exploited, I want them served. Without Jeff to keep that going and with no communication from the Board, the shareholders should be deeply concerned. It would be bad for artists if TuneCore were to lose its way, and it'd be bad for business.
“I truly hope the Board will make the time to talk to the shareholders and help us understand their moves. Of course, a shareholder's suit would bring everyone together for a discussion, but I'm certain no one wants that.”