The former Interscope CEO joined Apple in 2014 after selling Beats, the the music service and electronics business that he and Dr. Dre co-founded, to the tech giant for $3 billion. It is believed his departure is timed to his Apple shares fully vesting, sources tell Billboard. Apple declined to comment.

Apple bought Beats, and Iovine, for his connections in the industry and that has helped Apple get a strong foothold with artists. I’m not really sure what Iovine’s departure would mean for Apple Music because his daily role has diminished over time.