Derek Jeter abruptly announced on Monday that he is stepping down from his post as CEO of the Miami Marlins.
"Today I am announcing that the Miami Marlins and I are officially ending our relationship and I will no longer serve as CEO nor as a shareholder in the Club," Jeter said in a statement, via ESPN. "We had a vision five years ago to turn the Marlins franchise around, and as CEO, I have been proud to put my name and reputation on the line to make our plan a reality. Through hard work, trust and accountability, we transformed every aspect of the franchise, reshaping the workforce, and developing a long-term strategic plan for success.
"That said, the vision for the future of the franchise is different than the one I signed up to lead. Now is the right time for me to step aside as a new season begins."
The longtime Yankees infielder was part of the ownership group that bought the Marlins in 2017. Despite winning five World Series as a player, Jeter's success didn't translate over to the business side of things, as the Marlins went 218-327 during his four-year tenure as CEO.
The team's lackluster record doesn't appear to be the main reason for Jeter's surprising career move, however. Reports have surfaced that a divide grew between Jeter and Marlins' majority owner Bruce Sherman and that Jeter's stake in the team was supposed to grow over time but never did.
At the time Derek Jeter joined the Marlins, the perception was that his ownership share would grow. But that never happened -- and by last spring, it was seen as a symptom of the growing divide between he and Marlins money man Bruce Sherman.
— Buster Olney (@Buster_ESPN) February 28, 2022
Sherman released a separate statement regarding Jeter's departure.
Marlins owner Bruce Sherman statement on Jeter departure: pic.twitter.com/q0frzXbY0I
— Jon Heyman (@JonHeyman) February 28, 2022
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