U2's Manager Stepping Down Next Year

U2's longtime manager Paul McGuiness has announced his retirement from the music business.

The band inked a new deal with Live Nation that will turn control over to Madonna's manager Guy Oseary starting in 2014.

"It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock 'n' roll code of conduct," McGuiness said in an interview with the New York Times.

"As I approach the musically relevant age of 64, I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career. I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business."

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