Russell Simmons is stepping down from his companies in the wake of an accusation of harassment and sexual assault.
Simmons, the founder of hip-hop music label Def Jam Recordings and CEO of Rush Communications, released a statement on Thursday after screenwriter Jenny Lumet accused him of forcing her to have sex with him in 1991. She detailed the encounter in a guest column published by The Hollywood Reporter on Thursday.
The statement continued: “This is a time of great transition. The voices of the voiceless, those who have been hurt or shamed, deserve and need to be heard.
As the corridors of power inevitably make way for a new generation, I don’t want to be a distraction so I am removing myself from the businesses that I founded.
The companies will now be run by a new and diverse generation of extraordinary executives who are moving the culture and consciousness forward. I will convert the studio for yogic science into a not-for-profit center of learning and healing. As for me, I will step aside and commit myself to continuing my personal growth, spiritual learning and above all to listening.”