After more than 20 years at Roadrunner Records and 12 as President, Jonas Nachsin is stepping down from the label. It is unknown at this time who will replace him, but in the hours after his departure, sources told Billboard.biz that nine people had been let go from the label. An exit letter that Nachsin penned to his staff also was obtained by Billboard, and it reads in part: "I am so proud of what we have accomplished to showcase Roadrunner as not only a 'record company' but as a lifestyle and cultural beacon for fans around the globe. The chemistry of groundbreaking artists worked by a world-class group of truly committed employees has made Roadrunner a name with no equal over the years. That will continue."

Nachsin's memo was followed by one from Atlantic co-chairmen Craig Kallman and Julie Greenwald, thanking him for his years of dedication and service.

"For two decades, Jonas has been a passionate champion of Roadrunner's incredible roster of artists and helped forge the unique identity of one of the world's great labels," the memo reads in part. "Everyone who has worked with Jonas -- including artists, managers, the Roadrunner team and the wider Warner Music family -- have all been touched by his commitment and leadership. He has been instrumental in the careers of so many extraordinary artists, from superstars including Nickelback and Slipknot to breaking talents Young the Giant and Stone Sour. We will all miss Jonas and wish him the best in his next endeavor."