LOS ANGELES (AP) -- Shawn "Jay-Z" Carter said Monday that he will leave his post as president of Universal Music Group's Def Jam Records label after his contract expires this year.
The rapper said in a statement that he'll keep churning out music for his record label, Roc-A-Fella/Def Jam.
Carter, who was named president of Def Jam three years ago, said it was time for him to "take on new challenges."
