Well, actually, it was ultimately a mutual decision on both ends. (I couldn't resist the humor) She will no longer be managed by her father, according to her publicist, Yvette Noel-Schure. Matthew Knowles has been an instrumental force in managing Beyonce's career from Destiny's Child since the late 90's when she she was 14 years old.

"I am grateful for everything he has taught me,” Beyonce said in the statement. “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."

Knowles manages every aspect of Beyonce, from movies to musicto fashion and a lot more. Her career includes 16 Grammy awards, top-grossing movies “Dreamgirls” and “Obsessed,” "Austin Powers - Goldmember", "The Fighting Temptations", fashion incentives and extremely lucrative endorsements.

She's released three multi-platinum albums, “Dangerously In Love,” “B’Day” and “I Am … Sasha Fierce”.

No word yet on who her new manager will be. Her father wishes her t he best of luck in her new business ventures.