One of the biggest pieces of Apple’s $3.2 billion Beats purchase had nothing to do with headphones. It was the acquisition of legendary music producer Jimmy Iovine as part of the Apple team, and his high-profile connections and visibility has helped Apple grow its music service into a major player.
But it appears Iovine’s time at Apple is coming to an end. A report by Billboard says the recording giant will leave Apple in August, which just so happens to be when the shares he received as part of the Beats sale fully vest. Iovine joined the company along with Dr. Dre and Trent Reznor, both of whom hold still hold senior positions at the company.