Russell Simmons is stepping down from all his companies in the wake of a sexual assault claim from Jenny Lumet, daughter of director Sidney Lumet.

Lumet accused Simmons of raping her in an article on Thursday in The Hollywood Reporter.

Simmons released a statement in response:

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 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.

Deadline reports: “Simmons had been named previously in an alleged assault that was intertwined with his longtime friend Brett Ratner, who has also been disgraced in the ongoing scandals that saw him removed from RatPac Entertainment.”