The former Interscope CEO joined Apple in 2014 after selling Beats, the the music service and electronics business that he and Dr. Dre co-founded, to the tech giant for $3 billion. It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard. Apple declined to comment. Hits Daily Double first reported the news.
Iovine’s ties to Apple go back to 2003 when he first met Apple founder Steve Jobsand exec Eddy Cue, and was a key proponent of Apple’s iTunes and iPod.
Apple Music, Apple’s subscription streaming service, has expanded to more than 30 million paying subscribers since its June 2015 launch. That success is, in part, due to Iovine’s focus on content, including developing original programming.
For more details: billboard.com