In a statement sent out to the Associated Press, Beyonce and father Matthew Knowles announce that they have split professionally in a mutual decision by the two. Details have not surfaced as to why they decided to part ways or who her new manager will be.

Knowles has managed Beyonce since her days in Destiny's Child, and also managed fellow group members Kelly Rowland and Michelle Williams until splitting with them last year. Matthew Knowles will focus on his record label and gospel projects from here on out.

[Billboard]