According to Billboard.biz, in a surprise move, after more than 20 years at Roadrunner and 12 as president, Jonas Nachsin is stepping down from that post.

A source told Billboard.biz that new leadership will be announced within days.

Nachsin's own exit letter to his staff, which Billboard has obtained, indicates that WMG and Atlantic Records' senior management want to ensure that the label remains an enduring brand.

"I am so proud of what we have accomplished to showcase Roadrunner as not only a 'record company' but as a lifestyle and cultural beacon for fans around the globe," Nachsin wrote.

"The chemistry of groundbreaking artists worked by a world-class group of truly committed employees has made Roadrunner a name with no equal over the years. That will continue."

He closed by thanking "the great team here much success as they move forward into a new chapter for Roadrunner."

His memo was followed by one from Atlantic co-chairmen Craig Kallman and Julie Greenwald, thanking him for his substantial contributions and years of dedication.

Current artists on the Roadrunner roster include DREAM THEATER, MACHINE HEAD, LYNYRD SKYNYRD, OPETH, RATT, RUSH, SLIPKNOT, SOULFLY, STONE SOUR and TRIVIUM.