Atlanta rapper Young Jeezy has confirmed the departure of former Corporate Thugz Entertainment artist Freddie Gibbs after nearly a two-year stint under his wing.

Jeezy said despite the unexpected break-up, he still believes success awaits Freddie.

“Freddie is a talented artist and I decided that it’s time to press reset on my career and business ventures,” said Jeezy in a statement. “I have no doubt that Freddie will go on to be everything I believe he can be, and I wish him the best in his career.” (Rap-Up)

After rumors surfaced this week, Gibbs stepped up to announce his official exit.

“It was a mutual decision,” Gibbs revealed in an interview. “It was a number of things [that made me leave], but like I said, at the end of the day it was a good decision for myself and my family. It wasn’t nothing against him or none of that. It’s just moves that I had to make, personally, and business-wise. Like I said, it’s all love — I got a lot going on so it’s all good. … I got a new deal in the works, so everything’s good for me. As long as nobody diss me, there ain’t no diss record coming. As long as I ain’t disrespected and I don’t feel disrespected in no way, then it’s all good.” (“The Breakfast Club”)

Prior to the announcement, Freddie hinted at his independent status on Twitter.

“I’m the coldest Free Agent in the game.,” he tweeted December 8th.

“Feelin like Lebron at decision time.” (Freddie Gibbs’ Twitter)

Shortly after signing to CTE in early 2011, the Indiana rapper talked about joining forces with the “Snowman.”

“It feels good,” Freddie told DJ Smallz in an interview. “It’s always good to work with people that you respect and people you have mutual respect for. I bump Jeezy. I think he carved his own lane in the game and that’s what I’m trying to do. And what better way to elevate myself to the next level than doing it with somebody that I admire and respect. The situation with CTE, Jeezy, it felt correct…This is a long process for myself, but, I went with the gut feeling instead of just going with all the impulse and signing with someone just because they’re hot or some sh*t like that. I ain’t wanna be a d*ckrider because I see a lot of that in the game right now. So I just wanted to do things my way.” (“Southern Smoke Radio”)

Check out a recent Freddie Gibbs interview: