McGee told BBC 6music that although he was through with running record labels and managing bands, he would continue to put on club nights.
He explained that his decision to step away was based on his view that the industry is not run by music lovers.
“It was on my Facebook, my status said, ‘Glad I’m not a manager any more, I really recommend it,'” he said. “But all I’ve really done is retired from managing bands after 25 years.”
He added: “I stopped doing the record company about a year or two ago because I think they’re pointless things, like dinosaurs or trams or something. I’m still completely into new music and I’m still doing things with new bands, as in my clubs and stuff like that. I’m still going to be kicking about.
“I think I’m a man of the times, kind of like Tony Wilson, really. We don’t really have a place in the music industry anymore because we actually like music.
“I think the pre-requisite for being in the music industry is not liking music and playing the corporate game, agreeing with your boss.”