The Rolling Stones have effectively split with their long-time business manager, Prince Rupert Loewenstein.

The move was confirmed in a statement issued this morning by a publicist on behalf of the Stones.

The statement reads, "Prince Rupert Loewenstein is no longer taking care of the Rolling Stones day to day business but is currently retained on some aspects of their career."

Sources close to the band say Loewenstein will not be replaced.

The Stones' world-beating "A Bigger Bang" tour will roll out again in Europe this summer, making up for a string of dates lost last year.

The band will also headline their very first U.K. festival, the Isle of Wight Festival, on June 10 as well as playing St. Petersburg, Russia, and shows in Serbia and Ukraine for the first time ever.