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Executive Suite
Jay-Z to Step Down from Top Def Jam Post
posted on Dec 25, 2007
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Shawn "Jay-Z" Carter
said today he will leave his post as president of Universal Music
Group's Def Jam Records label after his contract expires Dec. 31. The
rapper said he will continue to release his own music under the Roc-A-Fella label he
founded in 1995, which is now wholly owned by Def Jam.
In a statement announcing his departure, Jay-Z
acknowledged the artists and executives he had worked with during his
three years as label president, including Antonio
"L.A." Reid, chairman and CEO of Island Def Jam Music Group.
He added, "It's time for me to take on new challenges.
I am pleased to have had the opportunity to build upon the Def Jam
legacy, helping to move the company into a new era of artistic success."
Reid stated, "Jay made it clear to us that he feels
the time has come to take on different challenges in his life. While we
regret his decision to move on, we certainly respect it ... While he
will continue to be one of our signature artists, he will nonetheless
be missed in this executive capacity."
Jay-Z took over Def Jam in 2004. As Def
Jam's president, Jay-Z signed a number of acts including Ne-Yo and
Rihanna, one of the record label's biggest sellers this year with her
hit "Umbrella."
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