Steve Rifkin, the Chairman and CEO of SRC, took to his Twitter early this morning to make an unexpected announcement.
“All great things come to a end,” Rifkind tweeted. “Yes it’s true I’m leaving SRC Universal as of Sept. 1. Want to thank all the artist 4 a great run.”
“I appreciate all the support,” he added. “I will stay in Music just give me a few weeks to spend time with my family thanks.”
As of press time, it remains unclear what the future plans are for the veteran music executive, who counts Wu-Tang Clan, Akon and David Banner among his stellar signings in a long career.
Rifkind declined to speak to XXLMag.com and hasn’t announced his exact plans moving forward. However, he did affirm that he will continue to work in the music industry. A source close to Rifkin told XXLMag.com that the executive plants to take SRC Records to another home, although it is unknown if another label deal exists elsewhere.
Few would doubt what Rifkind has meant to the rap game in terms of being a visionary during the past several years.
As the CEO of Loud Records, Rifkind helped launch the careers of hip-hop acts such as the Wu-Tang Clan, Mobb Deep, Big Pun and Three 6 Mafia. He’s also responsible for signing David Banner and Akon.
In fact, XXL hailed Rifkind as “responsible for breaking in some of hip-hop’s biggest artists in his 25 years in the business.”
The mastermind is also credited with having perfected the model of the Street Team in promoting rappers and their music.
Check back with XXLMag.com for more news on Steve Rifkind.—Mark Lelinwalla