Music

Jay-Z to step down from Def Jam Records

Published Thursday, Dec 27 2007, 14:58 GMT | By Beth Hilton

Jay-Z has announced that he will quit as president of Def Jam Records from January 1.

The rap mogul retired from making music when he signed a three-year contract for the position in 2005.

It was recently reported that he faced being dropped from the label because of his "excessive" payment demands.

However, he has now revealed that he is leaving to pursue “new challenges”, saying in a statement: "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."

Andy 'L.A.' Reid, Island Def Jam Music Group chairman and CEO, said: "While he will continue to be one of our signature artists, he will nonetheless be missed in this executive capacity.”

Jay-Z has signed artists including Rihanna and Ne Yo to the label.

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