Jimmy Iovine Steps Down As Interscope CEO

Following the sale of Beats to Apple Wednesday (May 28), Jimmy Iovine announced shortly after that he has stepped down as Chairman and CEO of Interscope Records, reports Billboard.
John Janick has been tapped to replace Iovine, and has been named chairman and CEO of Interscope Geffen A&M, while Iovine leaves to become an Apple executive.
"John Janick has exactly what it takes to lead Interscope Geffen A&M," Iovine said in a statement.. "He started his own label. He understands the art of making records and the unique dynamic between a record label and artist, as well as the enormous responsibility that comes with representing one of the greatest artist rosters ever assembled."
Janick launched his Fueled By Ramen imprint in 1996 and has worked in the Universal Music Group system, which includes Interscope Geffen A&M, since 2012. He has also been groomed by Iovine for the role.
Beats Music and Beats Electronics was acquired by Apple this week for $3 billion.
Both Iovine and co-founder Dr. Dre join the tech giant as executives.

No Filter: Reebok's CEO Says Rick Ross "Has Stupid Advisors Around Him"

Rick Ross getting booted by Reebok is fresh on plenty of people's minds today because of Lil Wayne sort of apologizing to Emmett Till's family. Reebok's CEO has commented on the Rozay today, and he was very candid.

During the FN (Footwear News) CEO Summit going on in Miami right now, Uli Becker mentioned the former Reebok Classics spokesman. 

"It's unfortunate because he's a great guy, he just has stupid advisors around him," Footwear News reports, via a Twitter, that the Reebok CEO said.

Damn.

Rozay did bungle the "U.O.E.N.O." lyrics controversy. Ross did offer a mea culpa in a more timely manner than Weezy, who like the MMG rapper didn't apologize until it became evident that not doing so could affect his wallet since the Till family saying they would pressure Mountain Dew to drop the rapper as a spokesman. However, Ross apologized three different times (the first on radio, the second via Twitter and the third through a press statement).

However, it was too little too late as Reebok severed ties with him before the third apology, citing that the rapper failed to "display an understanding of the seriousness of this issue or an appropriate level of remorse."

Safe bet Rick Ross will be paying more attention to his PR flacks advice moving forward.