Variety:

Music mogul Jimmy Iovine shot down rumors that he plans to exit Apple in August telling Variety that he’s committed to staying on the team and helping the company get music streaming right. “I am almost 65, have been with Apple for four years and in 2 1/2 years the [Apple Music] service has gotten to well over 30 million subscribers and Beats has continued its successful run. But there’s still a lot more we’d like to do. I am committed to doing whatever Eddy [Cue], Tim [Cook] and Apple need me to do, to help wherever and however I can, to take this all the way. I am in the band.”

Good news for Apple. But – what took him so long? The initial Billboard rumor was five days ago.