Derek Jeter announced Monday that he is stepping down as CEO of the Miami Marlins and is selling his stake in the MLB franchise.
The former New York Yankees star, who after ending his playing career joined the Marlins organization in September 2017, said the vision for the franchise’s future is “different than the one I signed up to lead” and that now is “the right time for me to step aside as a new season begins.”
“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,” Jeter said in a statement. “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.”
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Jeter, who served as the team’s CEO for four seasons, became the first African American owner/CEO in MLB history. The MLB says the Marlins were 218-327 under Jeter’s leadership and also reached the playoffs for the first time in 17 years in 2020. He had a 4% stake in the team, according to CNBC.
The Marlins, formerly known as the Florida Marlins, previously entered the playoffs in 1997 and 2003 as a wild-card team and won the World Series both times. Jeter is a five-time World Series champion with the Yankees and was elected to the Baseball Hall of Fame in 2020. He was playing as a shortstop for the Yankees in 2003 when his team lost to the Marlins in the World Series.
Jeter offered his thanks to the team’s “incredible staff, Marlins fans, Marlins players, and the greater Miami community.” He also said he was grateful for his time with the organization and that the club is “stronger today than it was five years ago.”
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MLB Commissioner Rob Manfred released a statement Monday thanking Jeter for his time as CEO of the Marlins, calling him “a winner on and off the field.” He also praised Jeter for becoming “a highly respected voice” on the team’s diversity and competition committees.
“Derek is a pillar of our game and we look forward to his future contributions to Baseball,” Manfred’s statement reads.
