Beyoncé And Her Father Part Company

Matthew Knowles will no longer manage his daughter…

Tuesday, March 29, 2011 - 13:40

R&B star Beyoncé will no longer be managed by her father, Matthew Knowles, reports have revealed.

In a statement from the Single Ladies star, she told The Associated Press (via publicist Yvette Noel-Schure) that despite the fact that she will no longer be doing any more business with her father, but still has a lot of respect for him.

SEE HOT PICTURES OF BEYONCE HERE!

She 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 am grateful for everything he has taught me," Beyoncé 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."

Matthew Knowles also issued a statement, saying: "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."

Last summer, reports claiming that the relationship between father and daughter had become strained were quashed by representatives for Beyoncé.