Jay-Z will jump from the recording studio into the boardroom, as the rapper was named President and CEO of Def Jam Recordings.

In an unprecedented move, L.A. Reid, the chairman of Island Def Jam, is taking a chance that the hottest rapper in the game can adjust to having a career that will involve marketing strategies, administrative work, and more.

But not everything associated with the position will appear foreign to Jay-Z. His own label that he started with Dame Dash, Rock-A-Fella Records, was bought by Def Jam Wednesday. He will continue running the company as part of an agreement.

“I can think of no one more relevant and credible in the hip-hop community to build upon Def Jam’s fantastic legacy and move the company into its next groundbreaking era,” said Reid, who has been working at Island Def Jam for less than a year.

“LA Reid and the Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career,” Jay-Z, whose real name is Shawn Carter, said. “I feel this is a giant step for me and the entire artist community.”

Jay-Z will officially takeover on January 3, 2005. He announced his retirement from rap as he released The Black Album, which helped earn him three Grammy Award nominations, as announced Tuesday.

Though since his retirement, he has released two albums: — Best of Both Worlds: Unfinished Business with R. Kelly, and Collision Course with Linkin Park. Both debuted at number one on Billboard.

Def Jam will also acquire the contracts of Roc artists like Kanye West and Cam’Ron. And should the Jigga man wish to come out of retirement to record more music, he will also release it under the Def Jam label.






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