Following two years on the job, Paul Rosenberg has decided to step down as CEO of storied record label, Def Jam Recordings.

Rosenberg announced the move on Friday (Feb. 21) via a note posted on Instagram. “Lucian offered me a dream opportunity to serve at the helm of Def Jam. The experience I had running one of the greatest, most storied record companies of the modern era was incredible," he wrote. "I will remain forever grateful. I’ve learned a great deal, but one of the most important things I learned is that my ability to multi-task is not without limits."

Rosenberg, who serves as Eminem's manager, will still work with Def Jam in a consultant capacity. However, he will take on a new role as head of a new joint venture with Universal Music Group (UMG); Goliath Records. He will maintain his role as the head of the management company that serves Eminem and as president of Shady Records.

“My new relationship with UMG gives me the ability to continue to sign and develop talent in a more focused and streamlined way, while still dedicating the time necessary to fulfill my management duties and foster the many entrepreneurial endeavors connected with Eminem,” he added in his statement.

"Thank you for the opportunity to live out a dream. @defjam #Undisputed," he put in the caption.

Paul was tabbed as the new CEO of Def Jam back in the summer of 2017, with him officially taking on the role in January 2018. He replaced Steve Bartels who served in the role from 2013-2017.

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