Mar 29, 2011 15:06 GMT  ·  By

They’ve been together since the beginning of her career as a singer, as part of supergroup Destiny’s Child, but the time has come for Beyonce and dad / manager to go their separate ways, as a statement says.

In a statement sent out to the media, Beyonce announces the decision to drop Matthew Knowles as a manager, insisting that there is no bad blood behind it.

Not that there could be any, since he is her father and will be that for the rest of her life, Beyonce says.

“I’ve only parted ways with my father on a business level. He is my father for life and I love my dad dearly. I am grateful for everything he has taught me,” the singer says in the statement.

Admittedly, it was Matthew’s example who inspired her in the first place, she goes on to say, leaving ample room for speculation on whether she has plans of managing herself from now on.

“I grew up watching both he and my mother manage and own their own businesses. They were hard-working entrepreneurs and I will continue to follow in their footsteps,” Beyonce says.

In a separate statement, Mr. Knowles also underlines the need to draw the line between business and family, saying a decision in one will not instantly reflect in the other.

“The decision for Beyonce and Music World Entertainment to part was mutual. We did great things together, and I know that she will continue to conquer new territories in music and entertainment,” Beyonce’s dad says of the split.

If they’re no longer working together, that doesn’t mean they are not loving father and daughter, Mr. Knowles stresses, thus rubbishing longstanding reports that things were tense between the two for unknown reasons.

“Business is business and family is family. I love my daughter and am very proud of who she is and all that she has achieved. I look forward to her continued great success,” Matthew adds.

Until January last year, Matthew Knowles also managed Kelly Rowland, who also got her start on Destiny’s Child. The decision to part ways was on amicable terms back then as well.