Beyonce and her father have parted ways and Mathew Knowles will no longer act as her manager.
The 'Halo' singer released a statement yesterday (28th March) which confirms the split, but she insists that it was a amicable agreement.
Beyonce said: "I've only parted ways with my father on a business level. 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 [my father] and my mother manage and own their own businesses. They were hardworking entrepreneurs and I will continue to follow in their footsteps."
The singer, who will be headling this year's Glastonbury Festival, has been managed by Mathew since the beginning of her career.
Meanwhile her father said: "The decision for Beyoncé and Music World Entertainment to part was mutual. We did great things together, and I know that she will continue to conquer new territories in music and entertainment.
"Business is business and family is family. 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."
It was rumoured last year that since Mathew's love child had been revealed his relationship with Beyonce had become strained. But this was strongly denied by Beyonce.
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