Def Jam President, Jay-Z, Steps Down

Noting that it’s time to take on new challenges, Shawn “Jay-Z” Carter announced (along with Universal Music Group) on Decemeber 24 that he will step down as Def Jam Records president when his contract expires this year. Jay-Z has been president of the label for three years and, in the statement announcing his depature, he acknowledged the artists and executives he had worked with during that time.http://billboard.biz/bbbiz/content_display/industry/e3iaf74208ef53ef3226ff951e6a91f7bbd?imw=Y