The timing of the move is apparently timed to ’s stock options fully vesting. He joined in 2014 after Beats Electronics was acquired for $3 billion.

Here’s more from Bloomberg:

Iovine, 64, is unlikely to stay even if he gets a new offer, said the person, who asked not to be identified discussing private information. The longtime record-label executive’s vision for Apple’s music and video projects has sometimes clashed with the views of others at the , including Eddy Cue, who runs the services business.

After Apple, he has been a guiding force behind the Apple Music subscription service, which has currently more than 30 million subscribers. That’s far behind first-place service Spotify, which just announced 70 million subscribers.

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