In a statement released by her publicist, Beyonce announced that her father Mathew Knowles would no longer manage her career. "He is my father for life and I love my dad dearly. I am grateful for everything he has taught me," said the singer.

According to a report from the Associated Press, the decision to end the working relationship was mutual. Knowles release a separate statement saying, "business is business and family is family. I love my daughter and am very proud of who she is and all that she has achieved. I look forward to her continued great success."

Knowles has managed every aspect of Beyonce’s career since Destiny’s Child. His replacement has not yet been named.

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