Her publicist, Yvette Noel-Schure, issued a statement that the multi-platinum Grammy-winning singer and her father have parted ways "on a business level."
The elder Knowles has managed his daughter since she debuted in the late '90s as the lead singer of Destiny's Child, while her mother, Tina Knowles, acted as her stylist.
Beyonce's father went on to manage the careers of her groupmates Kelly Rowland and Michelle Williams both as a trio and on their respective solo projects. He also manages his daughter (and Beyonce's sister) Solange.
In the past few years, Rowland and Williams have severed professional ties with Mathew, the man who had shaped their careers.
Beyonce said via her publicist that she is grateful for the role her father has had in her career.
"He is my father for life and I love my dad dearly," she said in the short statement.
Though rumors that she would be managed by husband Jay-Z’s Roc Nation company have swirled since he founded the company in 2008, no new management deal has been announced.
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