The co-founders of Creation Records, Alan McGee and Dick Green, are to leave the company after seventeen years of work and seven years after they sold 49% of Creation Records to Sony Music Entertainment. A statement from the label cites a desire to pursue other ventures as the reason for the departure. A statement from McGee states: "Creation Records has been our life for 17 years. We started the company from nothing but it's the end of an era. It's the end of a decade, a new millennium and life begins at 40. I feel like trying my hand at some new things. I still intend to be involved with music but there are other areas that I am keen to investigate. It will be a sad day for us both when we leave but the future is bright on all fronts and I am genuinely excited about starting afresh. Dick and I would like to thank all of our staff, past and present, and the artists of course, for making Creation Records what it is and hopefully we'll be remembered as one of the great British independent labels."
Acts who have benefited from Creation's expertise, since it's launch, are My Bloody Valentine, Super Furry Animals, Ride, Oasis, House of Love, My Bloody Valentine, The Boo Radleys, Teenage Fanclub, Jesus And Mary Chain and Primal Scream.