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Derek Jeter Steps Down as CEO of Miami Marlins

Jeter and the franchise part ways after five years

On Monday, Derek Jeter announced he was stepping down as CEO of the Miami Marlins effective immediately, while also giving up his financial stake in the franchise. 

Jeter released a statement indicating a "difference in the vision for the future" between him and the team.

“Today I am announcing that the Miami Marlins and I are officially ending our relationship and I will no longer serve as CEO nor as a shareholder in the Club. 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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“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.

“My family and I would like to thank our incredible staff, Marlins fans, Marlins players, and the greater Miami community for welcoming us with open arms and making us feel at home. The organization is stronger today than it was five years ago, and I am thankful and grateful to have been a part of this team.”

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Jeter engaged in the bidding for part ownership of the team in July 2017, finalizing the deal the following September. Although Jeter only owned a 4 percent stake in the team, he was named CEO while Bruce Sherman was the controlling owner.

That business partnership ended effective Monday.

MLB commissioner Rob Manfred released his own statement on Jeter's departure from the Marlins:

“On behalf of Major League Baseball, I thank Derek for his service to the Marlins, the communities of Miami and the game. Derek is a winner on and off the field. In addition to his valuable contributions as a front office executive, Derek was a highly respected voice on our Diversity and Competition Committees. He helped build a talented front office with the Marlins, including moving the game forward by hiring women in top roles in the Club’s baseball operations and executive leadership, and a foundation that has positioned the Marlins for long-term success. Derek is a pillar of our game and we look forward to his future contributions to Baseball.”

Jeter, a New York Yankees legend, was inducted into the Baseball Hall of Fame in 2020.