The Southern California dance music tycoon's contract was not renewed.
Richards launched HARD in 2007 and rode a wave of electro house and EDM to build the brand into a massive summer festival drawing nearly 150,000 attendees. This year's event, however, experienced weak ticket sales, according to LA Weekly, and was moved to a smaller venue.
Live Nation, who acquired HARD Events in 2012, elected not to renew Richards' five-year contract after its recent expiry, and will be taking on full ownership of HARD's flagship events, including Holy Ship! and HARD Summer. Richards, who produces and DJs as Destructo, will no longer be attending or involved with HARD after this weekend's edition, which includes headliners like Justice and Snoop Dogg as well as smaller acts like Floating Points and Jimmy Edgar.
Richards will reportedly move over to LiveStyle, which sprung up in the wake of SFX Entertainment's bankruptcy filing. It is unclear who will take over day-to-day responsibilities and booking for HARD Events.