Jimmy Iovine stepping down as Interscope Geffen A&M CEO to join Apple; John Janick stepping up

May 29, 2014 3:15 PM

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Jimmy Iovine stepping down as Interscope Geffen A&M CEO to join Apple; John Janick stepping up

NEW YORK — Jimmy Iovine and his boss had been grooming John Janick for two years to lead Interscope Geffen A&M since Beats Electronics continued to grow rapidly with its headphone line and streaming service.

Lucian Grainge — the CEO and chairman of IGA's parent label, Universal Music Group — said he wasn't expecting Iovine to leave the company, but knew he needed an executive to handle the label's daily tasks since Iovine had been so busy — and successful — outside of it.

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