OK, so Joe Camel aka Jay-Z claims that he stepped down from Def Jam due to starting new business endeavors which will need more of his time. Sources also back him in his claims:
"Jay is focusing on opening five more 40/40 clubs. He opened Las Vegas on New Year's and up next are LA, Miami, Chicago, London and Houston. He's also looking for hotel space in New York. He wants to open a chic, boutique hotel called The Jay. He just didn't have time to be president of Def Jam."
Yea Yea, whatever. Ole Camel Face knows that he was booted out due to poor performance at a job he wasn't trained to do. Def Jam artists suffered tremendously during his presidental reign. They were very happy to see him go, and so are Def Jams fans! Good bye Joe Camel, and good luck with your future projects!