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American Hip Hop Star and music Executive, Sean Combs aka Diddy have parted ways with the media company he founded, Revolt, selling his majority stake in the company which is now owned by employees amid several lawsuits alleging sexual assault.
Before Revolt announced its new leadership, CEO Detavio Samuels told The New York Times that Diddy and the company were now "completely separated and dissociated from each other." Diddy further added that he is no longer on the board and has no equity in Revolt.
In a statement, the business informed the media outlet."Sean "Diddy" Combs, the former chair of the company, has had all of his shares fully redeemed and retired."
"As the company continues to pioneer a new era of entertainment that empowers creators and establishes a new media model, this transformative structure ensures that the employees who are driving the company’s growth also have the opportunity to benefit from its success."
Revolt, according to NBC News, "will remain Black-owned and operated."
Diddy resigned as Revolt's chairman in November after his ex-girlfriend Cassie Ventura and two other women accused him of sexual assault and abuse; at the time, the company stated that he had previously had "no operational or day-to-day role in the business."
At the time, Revolt issued a social media statement saying that the "I'll Be Missing You" artist would no longer serve as the network's chairman, while a spokesman for the rapper told PEOPLE that it was a temporary change.
