PALOALTO has announced that he will step down as CEO of Hi-Lite Records.
On August 30 KST, rapper PALOALTO took to Hi-Lite Records's official Instagram and revealed that he will be leaving his post as the CEO of the company. After maintaining his position for 10 years, since 2010, PALOALTO has decided that he will focus solely on his career as a musician.
He thanked his label artists one last time as a CEO and asked for the public to continue their support for Hi-Lite Records. PALOALTO will remain in the company as a rapper-producer. That same evening, PALOALTO also dropped his single "Let The Story Begin" that contains lyrics of his story as a CEO for 10 years.
Meanwhile, media outlets noted how many rappers have been consecutively stepping down as CEOs in their respective companies. Following Simon D's resignation as CEO from AOMG, rapper Swings also stepped down from his post at IMJMWDP earlier this year.