Theo Epstein Stepping Down, Jed Hoyer Takes Over as Cubs President of Baseball Ops

The Cubs today announced that Theo Epstein will step down from his role as President of Baseball Operations effective November 20 after nine seasons in Chicago. As expected, Jed Hoyer, will be named President of Baseball Operations.

Theo and I have been communicating about this possible move for a couple of years, and we have been working together toward a transition that makes sense for the Cubs and for him,” said Tom Ricketts of the move. “The timing is right for a number of reasons, and most importantly we are both thrilled that Jed is the person succeeding Theo. We have had our most successful period in over a century under Theo’s leadership, and we are grateful for everything he has given to this organization and this city. Jed has been a big part of that success, too, and offers a combination of continuity and a fresh perspective that will serve us well as we look forward to another period of sustained success.”

While this may come as a surprise on the surface, it’s been heavily rumored for a long time and makes sense given the team’s budgetary restrictions and need for a new direction. As such, Epstein’s $10 million salary may have something ownership is happy to be rid of.

“For the rest of my life, I will cherish having been part of the great Chicago Cubs organization during this historic period,” said Epstein. “All of the things that have made this experience so special — the fans, the players, the managers and coaches, ownership, my front office colleagues, the uniqueness of the Wrigley experience, the history — make it so tough to leave the Cubs. But I believe this is the right decision for me even if it’s a difficult one. And now is the right time rather than a year from now. The organization faces a number of decisions this winter that carry long-term consequences; those types of decisions are best made by someone who will be here for a long period rather than just one more year. Jed has earned this opportunity and is absolutely the right person to take over this baseball operation at such an important time.

“I am grateful to everyone with the Cubs: to the Ricketts family for this opportunity as well as for their loyalty; to the fans for their support and the depth of their emotional connection with the team; and to the players, coaches, staff and my front office colleagues for their friendship, excellence and dedication to helping us accomplish our initial goals of regular October baseball and a World Championship.”

The prospect of spending the next year as a lame duck, particularly under the current circumstances, certainly weighed heavily in Epstein’s decision. Turning things over now makes sense as Hoyer is more than capable of taking the reins.

“I have been so fortunate to work alongside Theo for 17 of the last 19 years,” Hoyer said. “I could not have had a better mentor or a more loyal and trusted friend. He has already changed two storied franchises with his passion, creativity, intellect and leadership. I have no question that the next chapters in his career will be equally impressive and impactful.

“I am thankful to the Ricketts family for bestowing me with the opportunity to lead the Cubs baseball operation.  For the last nine years, I have worked alongside so many dedicated colleagues with one goal in mind — to build a team and an organization that makes Cubs fans proud and provides them with memories of a lifetime. I am thrilled that this leadership transition will provide continuity to a department that has had tremendous successes over the past six seasons. Ultimately, this transition is about the future, and I look forward to constantly pushing the Cubs to evolve and grow to ensure that there is sustained success at Wrigley Field.”

Whatever the next step is for Epstein, whether it’s another MLB organization or even a move to the English Premier League, his legacy as a Hall of Fame executive is set in stone. The man brought titles to Boston and Chicago, and, even if each of those tenures ended in disappointing fashion, the man is an all-time great. Now on to the next stage.

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