Russel Simmons Steps Back From His Empire

Today Russel Simmons stated that he will step back from all the companies he built and commit himself to his private life. Page Six released the following article (Read on Pagesix.com):

Another one bites the dust.

Russell Simmons announced Thursday he is stepping away from his empire, and released a statement addressing charges leveled against him by Jenny Lumet, the daughter of director Sidney Lumet and the screenwriter of “Rachel Getting Married” and other films. She wrote a guest column in The Hollywood Reporter Thursday morning charging that Simmons sexually assaulted her.

Simmons has been named previously for alleged assaults intertwined with his longtime friend Brett Ratner, who has also been disgraced in the ongoing scandals that saw him removed from RatPac Entertainment. Simmons issued this statement:

“I have been informed with great anguish of Jenny Lumet’s recollection about our night together in 1991. I know Jenny and her family and have seen her several times over the years since the evening she described. While her memory of that evening is very different from mine, it is now clear to me that her feelings of fear and intimidation are real. While I have never been violent, I have been thoughtless and insensitive in some of my relationships over many decades and I sincerely and humbly apologize.

“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. As the corridors 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 will now be run by a new and diverse generation of extraordinary executives who are moving the culture and consciousness forward. I will convert the studio for yogic science into a not-for-profit center of learning and healing. As for me, I will step aside and commit myself to continuing my personal growth, spiritual learning and above all to listening.”