Jay-Z Resigns As Def Jam's President!

Jay-Z resigns as Def Jam’s president
Rapper will continue as a recording artist on Roc-A-Fella


LOS ANGELES - Universal Music Group said on Monday that Shawn “Jay-Z” Carter is stepping down as president of its Def Jam Records unit, effective by the end of the year.

Carter, who was named president of the storied rap label three years ago, said it was time for him to “take on new challenges.” He signed acts including R&B singers Rihanna and Ne-Yo.

Universal said Jay-Z, also a top-selling rap artist, will continue as a recording artist for its Roc-A-Fella/Def Jam label.

Universal Music, a unit of French media and telecommunications group Vivendi, has 30 percent of the worldwide music market share.