Official Press Release from the San Diego Padres media department:
JOINT STATEMENT FROM THE SAN DIEGO PADRES AND CHICAGO CUBS
SAN DIEGO – The San Diego Padres and Chicago Cubs jointly announce today that Jed Hoyer and Jason McLeod will leave the Padres, effective immediately, to accept positions with the Cubs. The Cubs have agreed to send the Padres a player to be named later as compensation.
Both the Padres and the Cubs intend to hold news conferences after the World Series. The Padres will announce Josh Byrnes as Hoyer’s successor as executive vice president/general manager on Monday, October 31. The Cubs will announce Hoyer as executive vice president/general manager and McLeod as senior vice president/scouting and player development at a date to be determined.
Out of respect for the World Series, both clubs have agreed to forego further comment until holding their respective news conferences after the World Series is complete.