Jimmy Iovine
Live Nation EntertainmentAbout Jimmy Iovine
Jimmy Iovine (age 72) has served on Live Nation’s board since 2014. A renowned music industry entrepreneur, he co-founded Interscope Records and later Beats Electronics/Beats Music (acquired by Apple in May 2014) and served as a creative consultant to Apple from 2014 to 2018. He is an independent director and currently serves on the Compensation Committee.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Apple Inc. | Creative Consultant | 2014–2018 | Strategic creative advisory role |
| Beats Electronics & Beats Music | Co-Founder | Founded 2006; sold to Apple in May 2014 | Built consumer audio/streaming brands; strategic exit |
| Interscope Records (later Interscope Geffen A&M) | Co-Founder (Interscope); Senior industry leader | 1990 (Interscope founded); IGA formed 1999 | Major label leadership; artist development impact |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| NTWRK | Director | Private company | Consumer/media commerce platform |
| Rosewood Creative Marketing Agency | Director | Private company | Creative/marketing services |
| Backflip House, LLC | Director | Private company | Media/content enterprise |
| XQ Institute | Director | Non-profit | Education-focused organization |
| Iovine and Young Academy | Board role | Educational institution | Education initiative |
| Iovine and Young Center | Board role | Educational institution | Education initiative |
| Iovine and Young Foundation | Director | Non-profit | Philanthropy |
Board Governance
- Committee assignments: Member, Compensation Committee (Chair: Chad Hollingsworth). Not on Audit or Nominating & Governance; not an Executive Committee member.
- Independence: Board determined Mr. Iovine is independent under NYSE and company guidelines.
- Attendance: In 2024, all incumbent directors (including Mr. Iovine) attended ≥75% of board/committee meetings while serving; nine of eleven attended the 2024 annual meeting.
- Historical attendance flag: In 2016, all incumbents met the 75% threshold except Mr. Iovine (historical note).
- Compensation Committee activity: The Compensation Committee (which includes Mr. Iovine) met twice in 2023.
- Say-on-pay context: 2023 say-on-pay failed (53.6% against); 2024 passed with 62.7% support, prompting 2025 changes (no cash bonuses without performance, 20–30 consecutive trading-day stock-price conditions for PSUs, no overlapping STI/LTI metrics).
- Related-party oversight: Audit Committee oversees related-person transactions under the Code/Charter.
Fixed Compensation
Director compensation policy (unchanged across 2024–2025):
| Component | Amount |
|---|---|
| Annual cash retainer (non-employee director) | $100,000 |
| Committee member retainers | Audit $21,000; Compensation $15,000; Nominating & Governance $10,000 |
| Committee chair retainers | Audit Chair $18,000; Compensation Chair $15,000; N&G Chair $10,000 |
| Non-executive Board Chair retainer | $60,000 (cash or restricted stock) |
| Annual equity grant (non-employee director) | $200,000 in restricted stock (20-day avg. price) |
| Additional annual equity for Board Chair | $120,000 in restricted stock |
Jimmy Iovine – Director compensation received:
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| 2023 | 112,500 | 205,663 | 318,163 |
| 2024 | 115,000 | 188,362 | 303,362 |
Notes: Stock award values reflect ASC 718 grant date fair value; director equity is time-based restricted stock that vests after one year (on-cycle).
Performance Compensation
- Performance-based components tied to director pay: None disclosed; director equity grants are time-based restricted stock (no performance metrics) under the non-employee director plan.
Other Directorships & Interlocks
- Current public company boards: None disclosed for Mr. Iovine.
- Compensation Committee interlocks: Company reports no interlocks or insider participation requiring disclosure for Compensation Committee members in 2024.
Expertise & Qualifications
- Deep music industry leadership (Interscope co-founder; Beats co-founder) and entrepreneurial pedigree; reputation and network in music/media.
- Strategic/creative advisory experience at Apple.
- Brings artist- and brand-building perspective relevant to Live Nation’s ecosystem.
Equity Ownership
| Date (Record) | Common Stock | Exercisable Options | Restricted Stock Unvested | Other | Total Beneficial Ownership | Ownership % |
|---|---|---|---|---|---|---|
| April 19, 2024 | 32,792 | — | 2,444 | 13,740 | 48,976 | * (≤1%) |
| April 16, 2025 | 35,236 | — | 2,115 | 13,740 | 51,091 | * (≤1%) |
Notes:
- “Other” is reported in the ownership table without a specific footnote for Mr. Iovine; no pledging indicated for Mr. Iovine (pledge footnote appears only for another director in 2024).
- Director stock ownership guideline: ≥5x annual cash retainer within three years (currently a $500,000 minimum value expectation). Compliance status by individual director is not disclosed.
Related-Party Transactions (Conflict Review)
- 2024–2025 proxies: Disclose related-party dealings mainly with Liberty affiliates and Atlanta Braves; no transactions listed as involving Mr. Iovine.
- Historical (2019): Live Nation invested ~$3.0 million for ~5% in a privately-held company where Mr. Iovine was a director and ~21% owner (ordinary-course, arm’s-length).
Say-on-Pay & Shareholder Feedback (Committee Oversight)
- 2023 say-on-pay failed (53.6% against); in response, extensive shareholder outreach was conducted.
- 2024 say-on-pay passed with 62.7% support; in Feb 2025, the committee instituted changes: no cash bonuses without performance, consecutive trading-day stock-price attainment for performance shares (currently 30 days), and no overlapping STI/LTI metrics.
Governance Assessment
- Strengths: Independent director with deep domain expertise; active Compensation Committee member; robust director ownership policy; no current related-party ties; attendance ≥75% in 2024; committee addressing investor feedback with 2025 policy changes.
- Watch items: Historical attendance shortfall in 2016; recent years’ say-on-pay support was moderate (62.7% in 2024), keeping pressure on Compensation Committee rigor where Mr. Iovine serves.
- Conflicts: None currently disclosed for Mr. Iovine; prior 2019 investment tie was disclosed and described as arm’s-length.