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Beyoncé Drops Her Father as Manager

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Mar. 29 2011, Published 1:41 p.m. ET

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Beyoncé has made a stunning move and officially ended a business relationship with her father! Matthew Knowles managed his daughter since her Destiny's Child days in the late 1990s.

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Although they are departing ways "on a business level," she's not one of those stars to suddenly divorce her parent. In a statement obtained by E! News Beyoncé said, "He is my father for life and I love my dad dearly."

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Plus, the 16-time Grammy winner added that she's completely grateful for the impact he made on her career. As for what's next for the pop superstar, she's recording a single that's scheduled to be released this spring.

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