#JimmyIovine, the head of #AppleMusic, is reportedly stepping down from his position in August. Thanks to his expertise, the streaming service has over 30 Million paying customers since its 2015 launch. Iovine first joined Apple back in 2014 after selling Beats—which he co-founded with #DrDre—to the company for $3 billion.
Sources tell Billboard that the reason for his departure is that his shares in Apple are likely fully vested meaning he had to stay with Apple for a designated time before he could exercise his stick options.
As for what he plans to do after his transition, Iovine told Billboard back in September that he wished to continue growing and perfecting streaming services. “I’m 64 years old. I have no idea [what I’m doing next]. There’s just a problem here that needs some sort of solution, and I want to contribute to it.”
TSR STAFF: Talia O. @theclosetratchet on IG