First published on https://sg.movies.yahoo.com
John Janick is replacing Jimmy Iovine as Chairman and CEO of Interscope Geffen A&M (IGA), the company revealed on Wednesday.
Iovine is departing the company he founded in 1989 as part of the $3 billion Beats by Dre acquisition by Apple – a deal that was announced just moments before the succession plan came out.
Iovine co-founded Beats with hip-hop super-producer Dr. Dre. The Apple deal is expected to close by the end of this year.
Janick joined IGA in October 2012. From 2012 to 2013, the label achieved a 1.04 percent increase in current U.S. albums market share according to Nielsen SoundScan — the greatest increase in current share for any Universal Music Group label during the period, the record company pointed out in a press release.