With longtime Interscope chieftain Jimmy Iovine set to join Apple as part of the computer giant’s $3 billion acquisition of Beats Electronics, John Janick will take over the Interscope Geffen A&M label group as chairman and CEO later this year.

The announcement from parent company Universal Music Group comes hot on the heels of Apple’s confirmation of the Beats sale, which will bring Iovine, as well as Beats co-founder Dr. Dre, into the company pending regulatory approval. Janick was previously COO and president of IGA, having joined the label group in 2012.

Janick broke into the music business while still a student at the University of Florida, founding indie label Fueled by Ramen alongside Less Than Jake drummer Vinnie Fiorello in 1996. A pop-punk and emo nexus, the label developed the careers of Fall Out Boy, Paramore and Fun. He also served as co-president of Elektra Records.

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“Since coming to UMG nearly two years ago, (Janick) 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,” said UMG chairman Lucian Grainge in a statement.

Iovine founded Interscope in 1989, and built the upstart label into an industry power thanks to multiplatinum hip-hop releases from Dr. Dre, Snoop Dogg and others, subsequently broadening the roster to include artists like Nine Inch Nails, No Doubt, Lady Gaga and Eminem. The imprint – merged into IGA in 1999 – currently boasts the likes of Imagine Dragons, Kendrick Lamar and Maroon 5.

In a statement, Iovine noted, “It’s always been so important to me to be able to identify and train the right successor, so I’m thrilled to have found John Janick.”