Jay-Z steps down
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Rap impresario Shawn 'Jay-Z' Carter is stepping down as president of Def Jam Records.
The Midas-touched mogul has had a string of successes as head of the famous rap label - including the signing of R&B singers Rihanna and Ne-Yo.
He will step down at the end of the year after two years at the helm.
Parent company Universal Music said Jay-Z will continue as a recording artist for its Roc-A-Fella/Def Jam label.
Jay-Z - who has been romantically linked with Beyoncé Knowles for several years - has a host of other business interests.
He is part-owner of NBA team, the New Jersey Nets as well as a chain of American sports bars and has a net worth estimated to be in excess of £250 million.
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