L.A. Reid has stepped down as the chairman of Epic Records, a division of Sony Music.
Although there are little information available on why he decided to vacate his position or his next move, but a few major publications have confirmed the news including Variety magazine. Reid took on the position as the head of one of the few major music labels remaining today back in July 2011 and this year would mark six years for him in that position.
Under his watchful eyes, Epic Records achieved success with major acts like Future, Fifth Harmony, DJ Khaled, Meghan Trainor, and Travis Scott. Several of these artists are putting together new albums that will be released under the label. This year alone, Future released two hugely successful albums. L.A. Reid also previously brought Mariah Carey under the Sony Music umbrella while he was head of Island Def Jam.
L.A. Reid is widely regarded as a key figure in the music business for decades. Epic Records or Sony Music has not commented on the news.