Theo Epstein Steps Down As Cubs' President Of Baseball Operations

Theo Epstein, who served as the architect responsible for snapping two of the longest championship droughts in Major League Baseball history, will reportedly stepped down as the Chicago Cubs' president of operations this week.

Epstein, 46, announced his decision to resign effective Friday in an official statement shared by the Cubs on Tuesday.

"For the rest of my life, I will cherish having been part of the great Chicago Cubs organization during this historic period," Epstein said. "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."

Epstein was hired by the Cubs on October 12, 2011 after having previously led the Boston Red Sox to World Series championships in 2004 -- their first in 86 years -- and 2007. In Chicago, his rebuilding plan led the Cubs to a World Series title in 2016, the franchise's first in 108 years.

Epstein's current contract was set to expire after the 2021 season, but the 46-year-old hinted at a possible departure in October.

"For me, as an individual, there is benefit for change, after a significant amount of time on the job," Epstein said via ESPN. "I have to keep that in mind without making any definitive statements.

ESPN's Jeff Passan obtained a letter Epstein sent to friends on Tuesday in which the executive claimed: "Next summer will be my first in 30 years not clocking into work every day at a major league ballpark," and adds that he does "plan on having a third chapter leading a baseball organization someday, though I do not expect it to be next year."

Jed Hoyer, who joined the Cubs in November 2011 as executive vice president/general manager, will be promoted in Epstein's absence.

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