Russell Simmons is in favor of Irv Gotti becoming Def Jam’s new President.

The business mogul and co-founder of the historic hip-hop label told that he thinks the Murder Inc. founder would be one of three candidates fit for the job.

“I like Irv,” Simmons said. “I’d co-sign him. I like a lot of people lobbying. I like Irv, I like [DJ] Khaled. I’d co-sign Chris Lighty. These three people, I’d co-sign any of them in a second.”

Gotti hasn’t been shy about throwing his name in the mix for the job, persistently mentioning that he would be the right man for the gig over the last few months.

Besides partnering with the label for his own Murder Inc. imprint, the Queens-bred record exec brought several of Def Jam's signature artists to the label, including Jay-Z, DMX and Ja Rule. As of late, he has been working with The Diplomats and Shyne. –Mark Lelinwalla