Kris Kristofferson 'Officially Retired' from Music in 2020: He's What 'Every Artist Strives to Be'

The "Highwayman" is stepping away from the spotlight.

Kris Kristofferson retired from music last year after Morris Higham Management signed his estate for management representation, according to a press release on Wednesday. Kristofferson's son John is set to lead the family's businesses as MHM leads his indie record label.

"It's been amazing to dig into my dad's catalog and history with this seasoned group of professionals... I can't imagine a better partnership to bring the full depth of his songwriting to a new generation," his son John said in a press release. "The name has always been synonymous with songwriting as an art, and we're excited to reintroduce his work to new and old fans alike."

Back in 2013, the musician-actor, 84, revealed he was suffering from memory loss, which he blamed on "concussions" from his athletic career during his youth.

"A couple of years ago, my memory just started going," he told FOX411 then. "But I can remember my songs, so I can perform but other than that "

However, in 2016, the A Star Is Born actor revealed to Rolling Stone that he actually had been diagnosed with Lyme disease which was contributing to his memory loss.

"All of a sudden he was back," Kristofferson's wife Lisa told the magazine then. "Some days he's perfectly normal and it's easy to forget that he is even battling anything."

Kristofferson's estate joins a long list of musicians who are managed by MHM including Kenny Chesney, Carly Pearce, band Old Dominion and the estate of the late Roger Miller.

RELATED VIDEO: Grammy Nominee Mickey Guyton Says 'Country Radio Has Not Been Supportive' of Song Black Like Me

"Kristofferson is the artist that every artist strives to be," MHM President Clint Higham said in a press release. "He is an artist's artist. If Mount Rushmore had a place for songwriters, Kris would be on it."

The four-time Grammy winner and legendary songwriter was honored during the 2019 CMA Awards where artists Joe Walsh, Sheryl Crow and Dierks Bentley performed "Me And Bobby McGee." He also received the Willie Nelson lifetime achievement award that year.