Jimmy Iovine has admitted that he's moving to a consulting role at Apple

  • Apple Music dealmaker Jimmy Iovine has confirmed that he's moving to a consulting role at Apple.
  • It's been speculated since January that Iovine was stepping back from helping to run Apple Music.
  • Iovine previously denied a report that he was stepping down, calling it "fake news."


Apple Music dealmaker Jimmy Iovine has finally admitted that he's stepping back from his role at Apple, after months of media speculation.

Iovine said in an interview with The Times of London that he is moving to a consulting role at Apple.

Salaries of employees at 25 top tech companies:

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Salaries of employees at 25 top tech companies
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Salaries of employees at 25 top tech companies

Google

Average annual bonus: $32,478

Average sign-on bonus: $27,547

Average annual base salary: $136,000

Netflix

Average annual bonus: $0

Average sign-on bonus: $3,520

Average annual base salary: $206,000

Twitter

Average annual bonus: $120

Average sign-on bonus: $26,144

Average annual base salary: $149,000

Apple

Average annual bonus: $20,298

Average sign-on bonus: $27,201

Average annual base salary: $102,000

Facebook

Average annual bonus: $33,225

Average sign-on bonus: $45,708

Average annual base salary: $145,000

Oculus VR

Average annual bonus: $395

Average sign-on bonus: $6,926

Average annual base salary: $119,000

Amazon

Average annual bonus: $24,732

Average sign-on bonus: $41,340

Average annual base salary: $118,000

Square

Average annual bonus: $988

Average sign-on bonus: $17,996

Average annual base salary: $134,000

Uber

Average annual bonus: $31,633

Average sign-on bonus: $1,807

Average annual base salary: $117,000

Pinterest 

Average annual bonus: $4,374

Average sign-on bonus: $33,376

Average annual base salary: $151,000

Tesla

Average annual bonus: $4,779

Average sign-on bonus: $19,447

Average annual base salary: $105,000

UnitedHealth Group

Average annual bonus: $7,280

Average sign-on bonus: $118

Average annual base salary: $87,000

Snap Inc.

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Hewlett Packard Enterprise Co.

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Average sign-on bonus: $8,265

Average annual base salary: $131,000

CSRA

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Average sign-on bonus: $1,186

Average annual base salary: $100,000

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Capital One

Average annual bonus: $15,114

Average sign-on bonus: $8,568

Average annual base salary: $107,000

Fitbit

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Average sign-on bonus: $25,459

Average annual base salary: $128,000

Pandora

Average annual bonus: $22,316

Average sign-on bonus: $18,886

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Microsoft 

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Airbnb

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Arista Networks

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Linkedin

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Dropbox

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Average sign-on bonus: $32,833

Average annual base salary: $144,000

VMware

Average annual bonus: $33,145

Average sign-on bonus: $18,851

Average annual base salary: $147,000

Salesforce

Average annual bonus: $39,959

Average sign-on bonus: $28,314

Average annual base salary: $142,000

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"I'm gonna consult [for] them," Iovine said. "I'm just taking a slight step back. I'm not gonna be in the firing line. I'm committed to Apple and Apple Music. So whatever form that takes ... But I'm just not 'that guy' anymore."

"Some people can work until they're 90," he said, "I don't have to do a certain thing, I find peace in other places right now. The person in [documentary series 'Defiant Ones'] — I'm not gonna work like that anymore. Cos that's where I used to take all my pain and put it in there."

The Times asked Iovine if he's healthy. "I'm healthy as fuck!" he said.

Iovine joined Apple in 2014 after it spent $3 billion (£2.1 billion) on acquiring Beats, which he cofounded with Dr. Dre. Apple took Beats' fledgeling music streaming service and used it as the basis of its Apple Music streaming service. Since then, Iovine has been working as a dealmaker, connecting Apple to the music industry.

Iovine's comments follow a Wall Street Journal story published earlier this week which cited sources who claimed Iovine was stepping back from Apple and moving to a consulting role.

And Billboard reported in January that Iovine was leaving in August when his Apple shares fully vest. Iovine publicly denied that report, saying "we need Donald Trump here to call it 'fake news.'"

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