Apple Names a New Music Chief

Apple's (NASDAQ: AAPL)current music chief Jimmy Iovine is on his way out, preparing to transition to a consulting role once the last batch of shares he received from the Beats acquisition vests in August. With Spotify Technology (NYSE: SPOT)recently going public, Apple Music will need strong leadership to navigate the competition in the years ahead.

Spotify enjoys several advantages over Apple Music, and is even developing its own hardware.