Theo Epstein, the president of baseball operations for the Cubs, is stepping down from the franchise effective on Nov. 20, the team announced Tuesday.
Epstein, 46, joined Chicago in 2011 and was instrumental in building the team that won the 2016 World Series, the Cubs' first championship since 1908.
Jed Hoyer, who, like Epstein, joined the Cubs in 2011, will be named the club's new president of baseball operations.
According to the New York Post's Joel Sherman, Epstein has previously told friends that he would try to run a team from the top, with a piece of ownership, which is not something he is likely to get with the Phillies or Mets, two teams rumored to be interested in him.