Jay-Z Steps Down As President Of Def Jam

03/28/2008 02:45 am ET | Updated May 25, 2011

After an unusual three-year turn in the corporate suite, Jay-Z, the rap superstar, said Monday that he would step down from his post as president of Def Jam Recordings, one of the world's best-known record labels.

Jay-Z made the announcement with Def Jam's parent, Universal Music Group, as his employment contract was expiring. Under a separate long-term recording contract with Def Jam, Jay-Z, whose real name is Shawn Carter, still owes the company one or more albums.

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