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Beyonce's father has said her decision to part ways with him as a manager was part of her growing up.
The pop star announced earlier this week that her dad - who has managed her since she was a child - would no longer be in charge of her career.
Mathew Knowles called his daughter a "very, very smart businesswoman" who is ready to take control.
"It should come as no surprise that at 29-years-old, almost 30, that she wants to have more control of her business," he said.
Mathew has managed Beyonce since she was a girl and took her from multi-platinum success with Destiny's Child to a superstar solo career with blockbuster albums, top movies, a clothing line and lucrative endorsement deals under her belt.
The Grammy-winning star hasn't indicated who her new manager will be, but her father said he hoped that person would sustain his daughter's "level of success".
"Beyonce, I feel is the number one artist in the world right now," he said. "And that's a great feeling, as a father and manager."
Mathew said he's got his hands full with his Music World Entertainment label and its burgeoning gospel roster, which includes Trin-i-tee 5:7, Micah Stampley and Vanessa Bell Armstrong, so he won't be tempted to offer Beyonce unsolicited business advice.
However, he noted that he is still manager for Destiny's Child. Although the trio of Beyonce, Kelly Rowland and Michelle Williams officially "retired" a few years ago, Mathew said they might reunite one day.
"Hopefully one day they'll surprise us all and have another tour," he said.
