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Derek Jeter steps down as Miami Marlins CEO, sells stake in the team

Derek Jeter, along with Bruce Sherman, hold their first press conference as Miami Marlins owners on Tuesday, Oct. 3, 2017.
Miami Herald | Tribune News Service | Getty Images

Derek Jeter has announced he’s stepping down as chief executive of the Miami Marlins and selling his stake in the Major League Baseball franchise.

Jeter, the New York Yankees icon, took over the team’s top C-suite role in 2017.

“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 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.”

This is breaking news. Please check back for updates.

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