Russell Simmons Steps Down

Following sexual assault allegations, Russell Simmons announced he is stepping down from his companies.

Chris Pizzello/Invision/AP, file – Russell Simmons
Presenting the Vanguard Award on stage at the 46th NAACP Image Awards in Pasadena, Calif.

Earlier this month, actress Keri Claussen Khalighi accused Simmons of sexually assaulting her in 1991, according to the Los Angeles Times. Screenwriter Jenny Lumet followed, alleging Simmons intimidated her into having sex with him in the same year.

“This is a time of great transition. The voices of the voiceless, those who have been hurt or shamed, deserve and need to be heard,” Simmons said in a statement. “As the doors of power inevitably make way for a new generation, I don’t want to be a distraction so I am removing myself from the businesses that I founded.”

The companies that Simmons is leaving behind include All Def Digital, film company Def Pictures and yoga lifestyle brand Tantris.