MSNBC is reporting that Jay-Z is resigning as president of Def Jam records at the end of this year. He took over post three years ago when former boss Lyor Cohen left the position to become the chief executive at Warner Music Group.
Yesterday's move isn't surprising (his artists have long wondered if he could actually promote their projects properly with so many other business interests--including his own rap career on the horizon) and this "stepping down" move probably makes sense. He can still bow out rather gracefully--the calls for his neck would only have grown louder if he stayed and now he can focus more on selling clothes, music, vodka, ringtones, gymshoes, stadiums, Budweiser, nightclubs, Bengal tigers, circus midgets, and any other business interest that comes across his mind. All of which he seems to be pretty damn good at.
It was a novel idea, and probably good experience for Sean to head such a big outfit at such a relatively young age, but when he admits to being out of the office for three weeks at time because he's working on his own album, that's not a good look when you're the HNIC. Read more about it here or go here to see what the notoriously opinionated Okayplayer boards have to say about it.