Jimmy Iovine Steps Down as CEO of Interscope Records After Beats By Dre Sale

jimmy iovine

Couldn’t say I didn’t see this coming, but it’s now official. After Apple officially announced its purchase of Beats by Dre today for $3 billion, Billboard just announced the breaking news that Jimmy Iovine is stepping down as CEO/chairman of Interscope Records. Iovine will be taking an executive position at Apple (along with Dr. Dre), and with him netting hundreds of millions from the sale of Beats, Jimmy felt as if it was time to leave Interscope. Succeeding him will be John Janick, who has been working under Iovine for the last two years.