Ben Cook, centre, president of Atlantic Records, with Cardi B and Ed Sheeran in 2017

The president of a music label who signed the singer Ed Sheeran has quit over a photograph apparently showing him blacked up at a fancy dress party seven years ago.

Ben Cook, who is also credited with guiding the careers of the British grime artist Stormzy and the singer Rita Ora, stepped down from Atlantic Records UK with immediate effect and apologised for his “terrible mistake”of dressing as a member of the hip-hop group Run-DMC.

Mr Cook was disciplined when the image emerged last year. The photo was taken at a party where guests dressed as their musical icons. He said “allegations surrounding the party have continued to be made against me” but that many rumours about his appearance were untrue.

Last night it was…