Derek Jeter has officially stepped down as both the Marlins CEO and as a shareholder, reports Craig Mish.
Derek Jeter and the Miami Marlins have decided to mutually part ways. He will step down as CEO effective immediately per sources.— Craig Mish (@CraigMish) February 28, 2022
Oddly, the statement was made not through the Marlins, but rather a news-release distributer, which some may argue was red flag number one. In the statement (which reads like a break-up letter written by a guys doing his MFA), the first ballot Hall of Famer states, “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. 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. That said, the vision for the future of the franchise is different than the one I signed up to lead. Now is the right time for me to step aside as a new season begins.”
Jeter assumed the CEO roll in 2017, after joining the Bruce Sherman-led group that purchased the Marlins from Jeffrey Loria for $1.2 billion that September. The 4% he acquired in that transaction he will now give up, along with all of his involvement in baseball operations.
In his four-season run as CEO, Jeter made some splashy moves that raised a lot of eyebrows. To kick off his career as CEO, Jeter orchestrated the high-price trade of Giancarlo Stanton to the Yankees. Talk about making an entrance. While the team’s record didn’t even come close to .500 at 218-327, Miami was America’s favorite underdog when the made it to the postseason in the abridged 2020 season. Lest we also forget the trades of Christian Yelich, Marcell Ozuna, and J.T. Realmuto. The Marlins also secured a pretty technical naming rights deal.
The Marlins are now on the hunt for a new CEO while in the midst of a lockout, so I’m sure that’s a big selling point. Kim Ng, Marlins general manager, will now have the final say in key decisions, which previously needed to be vetted through Jeetz. Jeter was the first African-American CEO/owner in MLB history.