L.A. Reid Out at Epic Records

Reid arrived at Epic in the summer of 2011, having been brought to the company by then-newly-appointed Sony Music Entertainment boss Doug Morris. The two had worked together for several years at Universal Music Group, where Morris was head of UMG and Reid chairman of Island Def Jam, before reuniting at Sony.

In recent years, Reid has worked to turn around Epic's roster, having brought Meghan Trainor, Fifth Harmony and Mariah Carey into the label, and bolstering his hip-hop roster by signing Scott, Future, Khaled, Tribe, Busta Rhymes, Rick Ross, French Montana and Diddy's Bad Boy Records in recent years.

Reid first made his name as a label executive with LaFace Records, which he co-founded in the late 1980s alongside Kenneth "Babyface" Edmonds as a joint venture with Arista. The label had a sterling run through the 1990s with OutKast, Goodie Mob, Toni Braxton and TLC, among a slew of others, before LaFace was absorbed by Arista in 2000.

It was at Arista that Reid helped release Usher's 2004 landmark LP Confessions, which has been certified diamond by the RIAA for selling 10 million copies in the U.S., and OutKast's Speakerboxxx/The Love Below, which won three Grammys at the 2004 ceremony and became the first album classified by the Recording Academy as a rap record to ever win the Grammy for Album of the Year.

Later in 2004, Reid jumped to IDJ, where he worked extensively with Rihanna, Kanye West, Carey and Justin Bieber, and appointed Jay Z as president of Def Jam. He eventually left the company in early 2011, joining Simon Cowell's X Factor as a judge -- a gig he later publicly derided as "the worst thing I've ever done" -- before officially taking the top spot at Epic that summer.

This is a developing story.