Beyonce has decided to separate business and family. The multi-platinum selling entertainer has revealed that her father, Mathew Knowles, will no longer manage her career.

In a statement
released to the Associated Press by the singer's publicist, Yvette Noel-Schure, she disclosed that the Destiny's Child frontwoman has parted ways with her father "on a business level." Regardless of their split, Beyonce added, "he is my father for life and I love my dad dearly."

Mathew Knowles has guided his daughter's professional career since she first popped on the scene as a member of Destiny's Child alongside original group mates Kelly Rowland, LaTavia Roberson and LeToya Luckett. He also oversaw Beyonce's work on all three of her solo studio albums.

During DC's various changes in group members, Mr. Knowles even took on managerial duties for singers Kelly Rowland and Michelle Williams, after the latter joined the R&B set in 2000. Both entertainers ended their business relationship with Knowles to move forward with their solo careers.

Mathew Knowles, who founded the record label and management company Music World Entertainment, will still be a partner, through his company, with Sony for all Destiny's Child dealings. While he may no longer be representing his daughter when it comes to recording or acting, Knowles assures the public that the decision was a mutual one between both parties.

"The decision for Beyonce and Music World Entertainment to part was mutual," he said in a statement. "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."

Mr. Knowles currently has artists including Trin-i-tee 5:7, Brian Courtney Wilson, Juanita Bynum, Micah Stampley, Vanessa Bell Armstrong, Pastor Rudy, among others, signed to his roster. He went on to reveal that the new Music World brand will not continue its role in the career of R&B singer Tiffany Evans.

Beyonce has yet to reveal who she has selected as new management.

Watch Beyonce's 'Single Ladies' on AOL Sessions

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