After months of speculation, Hip-Hop mogul Jay-Z announced on December 24 that he will officially vacate his position as President of Def Jam Records at the end of his term.
The 38-year-old rapper issued a statement today (December 24) stating he will step down as president in 2008.
“I’ve been incredibly fortunate to have served as President of such a culturally-defining label as Def Jam over the last three years," Jay-Z said in a statement. "During that time, I’ve had the pleasure of working with many of the world’s most dynamic artists and many of the most dedicated and talented executives in the music business today, including Antonio “L.A.” Reid. But now it’s time for me to take on new challenges."(continue)
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