John Janick to Succeed Jimmy Iovine At UMG

Universal Music Group (UMG) has announced that John Janick, COO and President of Interscope Geffen A&M (IGA), will succeed Jimmy Iovine as Chairman and CEO of IGA later this year.

Iovine, who founded the Interscope label in 1989 and later co-founded Beats Electronics in 2008, will join Apple when it closes its acquisition of Beats.

Lucian Grainge, Chairman and CEO of UMG, said, "I'm thrilled to announce John Janick's promotion to Chairman and CEO of IGA.  Since coming to UMG nearly two years ago, he has consistently shown why he is widely regarded as one of the most talented, innovative and entrepreneurial executives in the music business today and will be a key player in the future generation of industry leaders. John is the ideal executive to be writing the next chapter in IGA's illustrious history."

John Janick

Janick said, "To have been able to work alongside Jimmy Iovine and contribute to the current success of Interscope Geffen A&M--three of the most storied brands in music—has been an extraordinary privilege.  Now to be appointed Jimmy's successor and be in a position to carry on his tradition of creative excellence and innovation is a truly humbling honor.  I want to thank Lucian and Jimmy for their belief in me and for fostering an environment that values artistry and entrepreneurship above all else."

Janick joined IGA in October 2012 and took over the day-to-day management responsibilities of the company.  Recently, IGA realized industry-leading commercial and creative success. From 2012 to 2013, IGA achieved a 1.04%  increase in current US album (plus TEA) market share according to Nielsen SoundScan, the greatest increase in current share for any UMG label during the period. The strong results have been driven by a series of new and established artist successes across a wide variety of genres.  Among the many achievements were platinum and multi-platinum-selling releases by Eminem, Imagine Dragons, Lady Gaga, Kendrick Lamar, Lana Del Rey, Maroon 5, Phillip Phillips and Robin Thicke.