SCOOTER BRAUN ANNOUNCES RETIREMENT FROM MANAGEMENT

Scooter Braun ended months of industry speculation today (June 17) by announcing that he is retiring from artist management to focus on his position as CEO of HYBE America. Braun at one time managed such superstars as Justin Bieber, Ariana Grande, J Balvin and Demi Lovato but has been gradually stepping away from that role in recent years.

"I've been blessed to have had a ‘Forrest Gump’-like life while witnessing and taking part in the journeys of some of the most extraordinarily talented people the world has ever seen,” he wrote on social media. “I’m constantly pinching myself and asking ‘How did I get here?’ And after 23 years this chapter as a music manager has come to an end.”

Braun's SB Projects will now be run by Allison Kaye and Jennifer McDaniels, whom he described as "incredibly powerful" and predicted would grow the company "into the most impressive women-led management business our industry has even seen."

Braun recalled discovering Bieber when he was "a 13-year-old kid busking in Canada" and Grande when she was still "a young actress on Nickelodeon."

“As we change our working relationships now, I will continue to root for them with the same passion that I did at each of their humble beginnings," he said. "There will never be a day where I don’t take great pride and honor in what we accomplished together."

Looking ahead, Braun said he's committed to growing "HYBE from the multibillion dollar publicly traded company it is today to the worldwide multifaceted entertainment platform it is destined to be" thanks to projects by BTS and its members. Braun will also serve as a national board member of the Make A Wish Foundation and continue his charity work with his own Braun Foundation.

"Between all of this and coaching my kids, I’m not worried about being busy," he concluded.