Has presided over Latin department since 1993.

Diane Almodovar, BMI's longtime VP of Latin writer/publisher relationships is leaving her post to pursue what she calls her "entrepreneurial spirit," Billboard.biz has learned.

After nearly two decades in the music industry, Almodovar says she is ready for new challenges. "This is one of the hardest decisions I have ever taken," says Almodovar, who has presided over BMI's Latin department since 1993. During her tenure, Almodovar has seen Latin music explode beyond "my wildest expectations."

Almodovar has not disclosed her future plans but she does say they fall within the realm of the entertainment industry. Among Almodovar's achievements was signing some of the top writers in Latin music, including Juanes, Jennifer Lopez, Shakira, Luis Miguel and most recently, reggaeton duo Wisin & Yandel and songwriter/producer Cachorro Lopez.

An announcement of Almodovar's successor is expected shortly.