To millions of fans worldwide, Jay-Z is a rapper. However, to the music biz, he is one of the most recognizable executives in music. He is the President of Def Jam records. That is until the end of this week.
Jay-Z has announced that at the end of this year, he will resign as the President of Def Jam.However, he plans to stay with the label as a recording artist. Under his contract, he owes the label two more albums.
Jay-Z has been President and CEO of Def Jam for the last three years, but not everyone was happy with that position. Often, artists would comment that their own career was being brushed aside as the label President was too busy promoting himself.
Despite the criticism, Def Jam launched Kanye West under Jay-Z's watch. He also launched Rihanna and Ne-Yo. Albums under his presidency were released by Ludacris, Young Jeezy, Rick Ross and NAS.
A replacement has is yet to be announced.
