In an exclusive interview with VladTV, veteran Hip-Hop producer Jermaine Dupri addressed prevalent rumors that Mariah Carey fired him as her manager due to low record sales of her latest album, Me. I Am Mariah... The Elusive Chanteuse.

His initial reaction to the notion that he was fired was to laugh it off, as no one could fathom he'd actually want to leave the situation on his own accord.

"That's funny, dropped me [laughs]...that's the story people make because that's what people...people think in they minds that that's exactly how it has to happen. It can't be...that Jermaine woke up one morning and didn't want to do it no more, that just can't possibly happen right?"

He then went on to explain what really took place, saying he decided that his friendship with Mariah wasn't worth sacrificing in the name of being her manager.

"I wasn't dropped, I chose that...I chose to do this because me and Mariah are friends first and foremost...I have a relationship with her (this is the ongoing joke) I have a relationship with Mariah better than her and her husband. I've known her longer than her and her husband have known each other...with that being said you don't want to f**k that up, right? I saw a lot of things happening inside of me being her manager that could've f**ked that up."

The So So Def CEO also briefly touched on being one of the youngest execs in the music industry and denied knowing anything about Mariah's recently reported separation from husband Nick Cannon.

Check out the exclusive interview above.