Apple Music chief Jimmy Iovine to move out in August this year


One of the chief architects of Apple's (NASDAQ:AAPL) push into streaming music appears set to leave the company this summer.

Music producer Jimmy Iovine poses at LACMA's 50th anniversary gala in Los Angeles, California, April 18, 2015.

The music industry icon joined Apple in mid-2014 after the tech titan purchased Beats Electronics for $3 billion.

Under his leadership, which included a strong push into original programming, Apple Music has surged to 30 million paid subscribers. In 2012, they bought struggling music streaming service MOG and expanded that into subscription-based Beats Music before selling the entire company to Cupertino, California, -based Apple.

Hits Daily Double reported Iovine's impending departure earlier Thursday. The departure is said to be due to Iovine's shares in Apple fully vesting.

The acquisition of Beats is still the largest in the company's long and storied history. That's far behind first-place service Spotify, which just announced 70 million subscribers. Though he never had an official title with the company, he no doubt offered his major label expertise to Apple Music executives, who have partnered in several exclusive deals with artists like Drake and Chance The Rapper. Iovine worked with Bruce Springsteen, John Lennon, U2, Eminem and Tupac during his career in the record business.