Jimmy Iovine is walking away from Apple Music. In a surprising move, the former Interscope CEO is set to part ways with the tech titan in August, according to Billboard.
Sources believe that Iovine’s departure coincides with his Apple shares full vesting, but the company has yet to comment on the development and the veteran mogul has remained tight-lipped about the news.
He has also been silent about his next moves. “I’m 64 years old,” he told Billboard last year. “I have no idea [what I’m doing next]. There’s just a problem here [in streaming] that needs some sort of solution, and I want to contribute to it.”
Last year, he also told Complex that he enjoys changing jobs from time to time. “I like to pivot. I was always someone like that,” he explained. “I get complacent and bored. I got bored of producing records. I got bored of running a record company. I wanted to move on.”
Iovine joined Apple Music in 2014, after selling Beats to the technology empire. He’s been credited with Apple Music’s growth, though he never took on an official title at the company. It’s unclear whether he will be replaced.