The 89-year-old Motown Records founder makes the declaration before he was presented with a Motown Legacy Award by Lee Daniels, joking that he has dreamed about it for years.

AceShowbiz - Motown Records founder Berry Gordy has announced his retirement from working life at the age of 89.

The legendary producer and label boss made the announcement at a Hitsville Honors ceremony on Sunday night (September 22) at Orchestra Hall in his hometown of Detroit, Michigan - where he founded Motown 60 years ago.

According to Billboard magazine, before he was presented with a Motown Legacy Award by Lee Daniels, Gordy made a speech lasting more than half-an-hour, and at the end announced he was retiring.

"As I stand here I'm back where I started. I have come full circle, so it is only appropriate that...I should announce my retirement," he said.

Gordy, who has threatened retirement before, went on to assure the crowd that he meant it this time - and plans to take it easy now he's fewer than two months away from turning 90.

"For years I have dreamt about it, talked about it, threatened it and tried to do it," he joked. "In fact, this has gone on for so many years that those trying to help me retire (have) retired themselves. It is time for me to spend my next 60 years reflection on how fortunate I am, how much I appreciate and love all of you and how wonderful my life has been, and will continue to be."

Although Gordy sold Motown in 1988, he's remained active in the entertainment business, producing the Tony Award-nominated "Motown: The Musical" in 2013 and managing music publishing interests.

The prizegiving was part of a weekend of events celebrating the 60th anniversary of Motown.

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