Apple Music’s Jimmy Iovine will leave the company in August. The news was first reported by Billboard and later confirmed by Bloomberg.
The timing of the move is apparently timed to Iovine’s stock options fully vesting. He joined Apple in 2014 after Beats Electronics was acquired for $3 billion.
Here’s more from Bloomberg:
Iovine, 64, is unlikely to stay even if he gets a new offer, said the person, who asked not to be identified discussing private information. The longtime record-label executive’s vision for Apple’s music and video projects has sometimes clashed with the views of others at the company, including Eddy Cue, who runs the services business.
After joining Apple, he has been a guiding force behind the Apple Music subscription service, which has currently more than 30 million subscribers. That’s far behind first-place service Spotify, which just announced 70 million subscribers.