Kevin Liles, the CEO and chairman of 300 Entertainment, announced that he would be stepping down from his position and leaving the company.
“The cultural impact we created in 10 years when starting from scratch is simply unmatched in the modern era. We transformed our value proposition – “mindset of independent, muscle of a major” – into a model for the rest of the industry to chase in this new era of music. But if there’s one consistent in music and culture, it’s that change is inevitable,” part of his resignation letter obtained by Billboard reads.
“As committed servants of the culture, we know growing and empowering the next generation of leaders is a responsibility, and when the time is right, we pass the torch.”
Liles founded the company back in 2014 with Lyor Cohen, Todd Moscowitz and Roger Gold.
The company has carried a heavy roster of talent, including Megan Thee Stallion, Gunna, Migos, Fetty Wap and Young Thug.
In February, Liles was named in a lawsuit after Jane Doe claimed that Trey Songz sodomized her at a party in 2016. Speaking to Rolling Stone, the accuser’s attorney, George Vrabeck, blasted Trey Songz, his manager Liles, and his record labels- Atlantic Records and 300 Entertainment for not taking any action against him.
The news of Liles’ resignation comes the same day his longtime friend, Sean “Diddy” Combs was indicted on RICO and sex trafficking charges.
