On the heels of the announced deal between Apple and Beats, longtime head of Interscope records, Jimmy Iovine will step down from his position.
John Janick will take over duties as Chairman and CEO. Jimmy Iovine will reportedly join Apple once they acquire Beats this September.
“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. It’s always been so important to me to be able to identify and train the right successor, so I’m thrilled to have found John Janick. And during the last few years, as I was preparing John to take the reins, Lucian Grainge was transforming UMG, a transformation that made it possible for me to make this transition knowing that Interscope is in good hands.”
Says Universal Records CEO Lucian Grainge:
“I’m thrilled to announce John Janick’s promotion to Chairman and CEO of IGA. Since coming to UMG nearly two years ago, he has consistently shown why he is widely regarded as one of the most talented, innovative and entrepreneurial executives in the music business today and will be a key player in the future generation of industry leaders. John is the ideal executive to be writing the next chapter in IGA’s illustrious history.
Congrats to Jimmy on his new deal and position