Rap mogul SHAWN 'JAY-Z' CARTER has laughed off rumours he is planning to leave Def Jam Records, insisting he will remain president of the label until 2008.
The 99 PROBLEMS hitmaker, 36, took on the post in January 2005, signing a three-year contract at the label.
He tells MTV.com, "Everything is good. I know there's been some rumours I was leaving Def Jam. I'm not leaving Def Jam. I signed on for three years, so I don't have any plans to move on.
"I love working with (Island Def Jam Chairman) ANTONIO 'LA' REID, I love working with (Island President) STEVE BARTELS, I love (Universal Chairman and CEO) DOUG MORRIS.
"I'll do whatever, if it's consulting, whatever it is, but I don't have any plans to go anywhere any time soon."