Music mogul Jimmy Iovine, former head of Interscope Records, will be stepping down from his position at Apple Music in August, according to reports. The music exec is currently the Head of Music Operations at the Silicon Valley mega corporation.
However, Iovine will continue to work with Apple in a consultancy role, according to Wall Street Journal sources. The former Interscope boss first joined the tech giant in 2014 when it bought Beats Electronics from him and Dr. Dre.
Rumors of the departure are not new, but Iovine usually denied them.
According to Music Business Worldwide:
Iovine’s departure was first rumoured by Hits earlier this year but was refuted by the exec himself, who said at the time: “I am almost 65, have been with Apple for four years and in 2 1/2 years the [Apple Music] service has gotten to well over 30 million subscribers and Beats has continued its successful run. But there’s still a lot more we’d like to do. I am committed to doing whatever Eddy [Cue], Tim [Cook] and Apple need me to do, to help wherever and however I can, to take this all the way. I am in the band.”