MIAMI — Derek Jeter announced Monday he is stepping down as Miami Marlins CEO after 4 1/2 years on the job.
The legendary former New York Yankees shortstop said in a news release that he will also no longer be a team shareholder.
Jeter said the future of the franchise was different from the one he signed up to lead and now was the time for him to step aside.
Jeter became CEO of the Marlins in September 2017 when Bruce Sherman bought the team from Jeffrey Loria.
A five-time World Series champion during a playing career spent entirely with the Yankees from 1995-2014, Jeter earned election to baseball's Hall of Fame in 2020.
Miami went 218-327 during his four seasons at the helm, finishing with a winning record only once at 31-29 in the pandemic-shortened 2020 season.
The Marlins announced that they have a "deep bench of talent" that will oversee both business and baseball decisions as they work to identify a new CEO for the team.
Miami also thanked Jeter for his contributions to the club and wished him luck in his future endeavors.