Jimmy Iovine Stepping Down as Chairman & CEO of Interscope

Jimmy Iovine has been in charge of the highly successful Interscope Geffen A&M for 25 years, but his glorious reign as chairman and CEO is about to come to an end.  After Apple finalizes the transaction to acquire Beats Music & Electronics later this summer, Jimmy will make his official exit from Interscope and join the Apple team.  He will be succeeded by 36-year-old John Janick, who has had the privilege of working under Iovine for the past two years to learn the necessary skills for the job.

The label ranks at No. 3 this year with a 7.1% market share, while it was honored with the No. 1 spot in 2013.  Janick will have a truly great opportunity to continue the overall success of Interscope Records once Jimmy Iovine makes his final exit.

Source: billboard.com Photo Credit: Robert Scoble, Gilly Berlin