Hip-hop industry veteran Kevin Liles is stepping down from his role as Executive Vice President at Warner Music Group.

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NEW YORK, NY - DECEMBER 05: Music executive Kevin Liles ttends the GREY GOOSE Cherry Noir VIP bar during the Trey Songz "Chapter V" Show in New York City. Anna Webber/Getty Images for GREY GOOSE

On Tuesday, Liles informed the company through a memo that he would be resigning from his position as Chairman and CEO of 300 Elektra Entertainment. In his announcement, he revealed that leadership would be passed to three experienced executives: Rayna Bass, Selim Bouab, and Gregg Nadel.

Liles has had a long tenure with Warner, having joined the company in 2004. Warner was once home to Diddy's Bad Boy Records, and Liles has been one of Diddy's most outspoken defenders amid the numerous allegations made against him. Liles has publicly supported Diddy, standing by him even as controversies surrounding the hip-hop mogul have continued to grow.

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NEW YORK - JUNE 07: (U.S. TABS AND HOLLYWOOD REPORTER OUT) Co Creator and Producer Sean "P. Diddy" Combs (L) and Executive Vice President of Warner Music Group Kevin Liles attend the premiere of Combs new HBO series "The Bad Boys of Comedy" at Cipriani Fifth Avenue June 7, 2005 in New York City. Paul Hawthorne/Getty Images

Recently, the biggest buzz in the music industry has centered on Diddy's legal troubles, with prosecutors investigating his alleged involvement in illegal "freak-offs." Many individuals connected to these incidents are nervous, as the situation continues to unfold. Liles, however, has maintained that the person being portrayed in the media is "not the Diddy I know," a sentiment he expressed during an interview in April when the allegations first surfaced.

Liles' departure from Warner Music Group is expected to take place by the end of the month. Insiders suggest that his resignation may be part of a larger restructuring effort within Warner, as the company has seen a number of executives leave recently. Social media is buzzing with speculation about whether Kevin Liles' resignation is linked to Diddy's recent arrest, with the timing raising more than a few eyebrows.

In addition to these changes, Elliot Grainge, the founder of 10K Projects and the son of Universal Music Group's CEO Lucian Grainge, has been named the new CEO of Atlantic Music Group. This move has only added to the speculation about a significant transformation happening behind the scenes at Warner Music.

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