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Reds promote Williams to general manager

CINCINNATI -- The Reds promoted Dick Williams to general manager on Wednesday as part of a "succession plan" for 64-year-old Walt Jocketty, who will stay on as director of baseball operations for now.

Williams is 44 and has been in the Reds' front office for the last 10 years, most recently as assistant general manager. Williams is a Cincinnati native who worked in investment banking in New York and Atlanta and started a venture capital fund before getting involved with the Reds.

"As is the case with any business, it's critical to have a succession plan in place," Jocketty said.