Castelaz Exits Elektra

NEW YORK (CelebrityAccess) — Jeff Castelaz is leaving his post as president of Elektra Records to focus on his company Cast Management and philanthropic endeavors full time.

"Running Elektra Records has been a dream come true," Castelaz told Billboard, who first reported on Castelaz's exit. "Being part of Atlantic Records Group, I've learned so much from Craig and Julie, and will forever count them as business mentors and friends.

"But I've been accused of being a serial entrepreneur," he continues. "I build something, I get it to the best place I can, and then I start dreaming of what's next. Being a manager really satiates that part of me because each producer or band I manage is a different entrepreneurial project, because those business are constantly iterating and changing — and that really turns my crank."

A rep for Warner told Billboard that there was no immediate replacement for Castelaz in the wings and the label will be overeen by veteran A&R exec Greg Nadell in the interim.

Castelaz launched Cast Management in 1992 and the company currently represents the Dropkick Murphys, Peter Walker, and Division Day as well as producers Justin Meldal-Johnson and Tony Hoffer among its clients. – Staff Writers