LOS ANGELES (AP) - Another "retirement" for Jay-Z. But this time, it's not from rapping and it sounds like it will stick.

The rap star says he will leave his position as head of Def Jam Records. His departure is due to take place after his current contract expires this year.

Def Jam is a division of Universal Music Group and the company suits gave Jay-Z control of the label three years ago.

In his statement, Jay-Z says it is time to "take on new challenges." He didn't say what those "challenges" might be.

A couple of years back, Jay-Z announced he was stepping away from the rap game, but has since released another album. And he says he will continue to release his own music through his record label, Roc-A-Fella, which is under Def Jam.

L.A. Reid, CEO of Island Def Jam Music Group, says the label regrets Jay-Z's decision to move on as an executive, saying he will be missed. As Def Jam's president, Jay-Z signed a number of acts including Ne-Yo and Rihanna, one of the record label's biggest sellers this year with her hit "Umbrella."