It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard. Apple declined to comment. Hits Daily Double first reported the news.
Iovine and Dr. Dre sold Beats to Apple for $3 billion back in 2014, after which Iovine helped the company launch Apple Music and develop original programming.
Last September, he told Billboard that he was focused on bringing music streaming up to speed. When asked what he planned to do after Apple Music, Iovine said, "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. Goldman Sachs may think it’s solved, but I don’t. We’re not even close."
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