Beyonce No Longer Managed By Father, Mathew Knowles

'I've only parted ways with my father on a business level,' singer says.

Artists cut ties with managers all the time. But when your shot-caller is your dad and he's helped you climb the ladder of fame to the very top, things can be a bit trickier.

After years of rumors, [article id="1647075"]Beyoncé[/article] confirmed on Monday that she is parting ways with the man who helped make her an international pop diva: dad Mathew Knowles. According to CNN, the split was amicable and both sides said it was a mutual decision. "I've only parted ways with my father on a business level," Beyoncé, 29, said in a statement released on Monday. "He is my father for life and I love my dad dearly. I am grateful for everything he has taught me ... I grew up watching both he and my mother manage and own their own businesses. They were hardworking entrepreneurs and I will continue to follow in their footsteps."

Mathew Knowles began managing Beyoncé's career when she was a teenager and shepherded her through her mega-success with Destiny's Child in the late 1990s and into her even bigger career as a solo artist, which has garnered her 16 Grammy Awards and millions in sales for her three post-DC albums. Her mother, Tina, is Beyoncé's stylist and is heavily involved in their clothing line, House of Dereon.

"The decision for Beyoncé and Music World Entertainment to part was mutual," Mathew Knowles said in a separate statement also released on Monday. "We did great things together, and I know that she will continue to conquer new territories in music and entertainment."

It was not announced who would take over management duties for Beyoncé, but Knowles said his record label would instead focus on gospel and inspirational artists. "Business is business and family is family," Knowles continued. "I love my daughter and am very proud of who she is and all that she has achieved. I look forward to her continued great success."

Among the artists who are listed on the Music World Entertainment site are Juanita Bynum, From Above, Pastor Rudy, the Bamaz, Beyoncé's younger sister, Solange, and Trin-I-Tee 5:7. Knowles also used to manage former [article id="1603701"]Destiny's Child members Kelly Rowland[/article] and Michelle Williams, but they parted ways with him, respectively, in 2009 and 2010.

Mathew and Tina Knowles divorced in 2009 after 29 years of marriage. [article id="1658108"]Beyoncé is reportedly close to finishing work[/article] on the [article id="1652659"]follow-up to 2008's I Am ... Sasha Fierce[/article], which could include contributions from Sia and Sleigh Bells, along with [article id="1648430"]Ne-Yo[/article], [article id="1655794"]S1[/article], Jim Jonsin, Sean "The Pen" Garrett, The-Dream and Tricky Stewart.