After joining the team in 2014, Jimmy Iovine will reportedly leave Apple Music in August of this year.

According to Billboard, there is speculation that the departure by the veteran music executive has been timed with his Apple shares fully vesting.

Iovine's official title with the popular streaming service was never disclosed by the company, but he certainly helped make a huge impact on the music market with his connections, investments and relationships in the industry. If you recall, the former Interscope CEO originally joined the Apple Music team after he and Dr. Dre sold their Beats by Dre business to Apple for $3 billion in 2014.

He first linked with Apple all the way back in 2003, when he met Apple founder Steve Jobs and exec Eddy Cue, and was a key proponent of Apple's iTunes and iPod brands. While maintaining his relationship with the Apple heads when he joined the team, he was able to work with them on developing original content for the streaming service, including tons of radio shows for Beats 1.

As of right now, Apple has not revealed any plans to potentially replace Iovine on their team, but being that his official title with the company is a bit unclear to the public, they may only seek to bring on more prominent names in the music business.

XXL has reached out to Apple Music for comment.

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