Singer Jay-Z would be stepping down as President of Def Jam recording company this New Year. The 38-year-old singer said that it was time for him to "take on new challenges."He took over the renowned hip-hop factory soon after announcing his brief retirement from recording in 2005. During his two-year tenure, Jay-Z has signed the likes of Rihanna and Ne-Yo and supervised the blockbuster releases himself, in collaboration with Kanye West.
As of 2007, Jay-Z has been nominated for 20 Grammy Awards, eight of those collaborations. Of these nominations, he has six Grammy wins.
When he was 12, Jay-Z's father walked out on the family.
Jay-Z often spoke of his nephews in his music, including tributes in hits U Don't Know, Sunshine, Anything and Lost One.
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However, Universal Music, the parent of Def Jam, said that the singer would continue to record for the company's Roc-a-Fella label, co founded by him.
“While he will continue to be one of our signature artists, he will nonetheless be missed in this executive capacity," E! Online quoted Andy ‘L.A.’ Reid, Group chairman and CEO, Island Def Jam Music, as saying.
The ‘Hard Knock Life’ singer had recently said that he feels good about where the music industry is heading.
"As a person who is optimistic about hip-hop, I look at albums like American Gangster and Kanye West's Graduation as albums that people can emulate, because they were made with nothing but the highest of integrity and passion about putting your all into the music," Jay-Z told billboard.com.