Apple Music executive Jimmy Iovine leaving company, reports say

Report: Apple Music's Jimmy Iovine to depart Apple in August [Update]

Apple Music's Jimmy Iovine Plans Departure in August

Beats Music co-founder Jimmy Iovine is set to leave Apple (NASDAQ:AAPL) in August, Billboard reports.

Iovine joined Apple in 2014 when the tech giant acquired Beats, a headphone company he founded with rapper Dr. Dre.

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Jimmy Iovine (right) might not be working for Apple CEO Tim Cook much longer.

Apple never disclosed Iovine's official title, but he worked closely with the team that developed the company's streaming music service, Apple Music. According to Billboard, his Apple shares will have simply fully vested later in the year.

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Update: Bloomberg corroborates and says Iovine's departure will come after he receives a final payout from Apple's acquisition of Beats. When asked what he planned to do after Apple Music, Iovine said, "I'm 64 years old". He originally pitched a streaming music service to Steve Jobs back in 2003 and was an early proponent of the iPod and iTunes.

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Since taking on his role at Apple Music, the user subscription has surpassed 30 million since launching in 2015. There's just a problem here that needs some sort of solution, and I want to contribute to it.

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