Scooter Braun officially retires from artist management

Scooter Braun has announced that he has retired from artist management.

The music mogul took to Instagram on Monday to announce his retirement from artist management, two years after he unofficially stepped back from managing some of the industry's biggest stars, including Ariana Grande and Justin Bieber.

"23 years. That's how long I have been a music manager," Braun began in the statement. "23 years ago a 19 year old kid started managing an artist named Cato in Atlanta, GA and my journey began."

The entrepreneur went on to explain that he will focus on being a father to his three children with ex-wife Yael Cohen and his role as CEO of entertainment and media company HYBE America, stating that he is "a father first, a CEO second and a manager no more".

Braun added that as a manager, he was constantly on call for his clients, which affected his personal life.

"But as my children got older, and my personal life took some hits, I came to the realization that my kids were 3 superstars I wasn't willing to lose," he wrote. "The sacrifices I was once willing to make I could no longer justify. It was time to step into a new role."

He then shared that working with Justin and Ariana was one of his "greatest honors".

"Justin a 13 year old kid busking in Canada and Ariana a young actress on Nickelodeon. To see them both come up to be the legends they are today will forever be one of my greatest honors," he wrote. "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. I remember the pranks and the water park shows with Justin, and the first time Ari opened an arena tour and her excitement side stage."

The announcement comes nearly a year after it was reported that several artists, including Ariana, Justin and Demi Lovato, had cut ties with the music executive.