Russell Simmons has resigned his post as CEO of Phat Fashions. The hip-hop mogul founded the company in 1992 when he launched the Phat Farm fashion line. Phat Fashions includes men’s urban label Phat Farm and the Kimora Lee Simmons-helmed Baby Phat brand.

“I have enjoyed my association with Kellwood over the last three years. We have accomplished much during this short period of time – and I leave the division and the brand in great hands. There are so many things I want to achieve, and this is the appropriate moment for me to move on to my next business venture.”