Jimmy Iovine To Leave Position As Chief Of Apple Music
Recent reports have revealed that the chief of Apple Music, Jimmy Iovine, is planning to leave the company in August. Furthermore, it seems that his plans of leaving is toed to the fully vesting shares he has in Apple.
According to reports, sources reveal that Iovine is unlikely to stay in the company even if he were to receive a new offer. In his time as the chief of Apple Music, Iovine has propelled the department to the number two spot in the music streaming industry. Now standing with 30 million subscribers, Apple Music is second only to Spotify, which is supported by over 70 million subscribers. Considering that it was his mission to achieve such a feat, Iovine seems to be content with the work he has done in the past few years and is now looking for other areas or places that might need his expertise.
Further reports reveal that he will be leaving the premises of Apple presumably when he receives the payout from the tech giant's acquisition of Iovine's company, Beats Electronics that was co-founded with Dr. Dre. Given that the company was signed over with a $3 billion deal, Iovine might also be looking to retire after Apple Music. Apple has yet to release an official statement on the matter but one the finaly payout has been given sometime within the year, the tech giant is expected to release an announcement, at the very least.
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Aside from news of Iovine's nearing departure from Apple Music, there is no word yet on who might be taking over his place or if Apple intends to discard the position. In any case, Iovine's time in the premises of the tech giant has been tumultuous with Iovine proceeding to make decisions that may or may not agree with the rest of the executives.
