In the wake of the news that Apple had officially bought BeatsByDre, Jimmy Iovine has announced that he is stepping down from Interscope Records. Iovine has been the Chairman and CEO of Interscope for 25 years; known primarily for his most famous move, when he signed N.W.A., a controversial decision that paid off beautifully. During his tenure, the label has become a major stop for many West Coast artists, street rappers, and pop stars.
Iovine will be heading over to Apple, as agreed upon in their deal. John Janick will step into his position, a role that he was informally doing, while the company awaited news Iovine’s departure. His former boss had nothing bad to say about Janick, but praised him in a statement:
John Janick has exactly what it takes to lead Interscope Geffen A&M: he started his own label, he understands the art of making records and the unique dynamic between a record label and artist, as well as the enormous responsibility that comes with representing one of the greatest artist rosters ever assembled.
Once Apple’s acquisition is completed at the end of the summer, Iovine will officially be a part of their team.