JAY-Z announced Desiree Perez as the CEO of Roc Nation on Friday. Mrs. Perez has been operating in the role of COO since 2009 and is also a co-founder of the company.

Mrs. Perez’s appointment to CEO is effective immediately and will see her lead the company in the growth and development of the entire company, including music, management, all new business development, philanthropy, publishing, touring and TV and film development.

Perez will take over the CEO seat from Jay Brown, who is now the Vice-Chairman of Roc Nation. Brown will continue to cultivate partnerships and expand the breadth of Roc Nation as a global powerhouse.

The news caps off a banner week for Perez who was named “Executive of the Year” by Billboard. You can read her interview here.