As JAY-Z has continuously improved his business handlings with age and elevated to billionaire status, his Roc Nation agency has become more powerful and expansive. First founded as a music label, Roc Nation now serves as an agency for artists and athletes, as well as management for several other entertainment and fashion fields.

As business keeps booming, Roc Nation found it necessary to appoint a new Chief Operating Officer on Wednesday (Jan. 19). Brett Yormark, who was already serving as co-CEO of Roc Nation Unified and President of Business Operations & Strategy for Roc Nation, received a promotion to COO. Yormark will still serve in those two prior roles, and releases a statement thanking his superiors for the opportunity: “I am thrilled that JAY-Z, Desiree and the Roc Nation board have given me this opportunity and look forward to growing the company under their vision. Roc Nation is one of today’s most culturally rich, diverse and innovative companies. After the past two years working at Roc Nation, I have seen first hand that with determination and an entrepreneurial spirit, anything is possible.”

Read more in Hotnewhiphop.com.