Jay-Z Is Tapped as President of Def Jam Record Label

Jay-Z, who has professed retirement from his rap career, now has a new job to occupy his time -- president of the Def Jam record label.

The appointment, rumored for months, was made Wednesday by Antonio “L.A.” Reid, the chairman of Island Def Jam Music Group.

The multi-platinum rapper -- whose latest album, “The Black Album,” was nominated for three Grammys on Tuesday -- will take the helm Jan. 3. He also will continue to run Roc-A-Fella Records, which he co-founded with Damon Dash in 1995.

Def Jam, which owned 50% of Roc-A-Fella, also announced Wednesday that it had wholly purchased the rap label, whose acts include 10-time Grammy nominee Kanye West, Cam’ron and Beanie Sigel, who is serving a yearlong prison sentence. Terms weren’t disclosed.

“I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella,” Jay-Z said in a statement. “L.A. Reid and Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community.”

Reid praised Jay-Z -- whose real name is Shawn Carter -- for his business acumen and declared him the perfect candidate to lead Vivendi Universal’s Def Jam. Its previous president, Kevin Liles, left in July and became executive vice president at Warner Music Group.