(Tuesday, November 17, 2020) - The Chicago Cubs announced that their President of Baseball Operations, Theo Epstein, will be stepping down.

In an official statement released by the Chicago Cubs Tuesday afternoon, Epstein said: "For the rest of my life, I will cherish having been part of the great Chicago Cubs organization during this historic period… All of the things that have made this experience so special -- the fans, the players, the managers and coaches, ownership, my front office colleagues, the uniqueness of the Wrigley experience, the history -- make it so tough to leave the Cubs. But I believe this is the right decision for me, even if it's a difficult one. And now is the right time rather than a year from now."

Cubs chairman Tom Ricketts discussed Epstein's impact on the Chicago Cubs the same statement by saying: "We have had our most successful period in over a century under Theo's leadership, and we are grateful for everything he has given to this organization and this city."

The Chicago Cubs named Jed Hoyer as the new President of Baseball Operations for the Chicago Cubs. Both Hoyer and Epstein joined the Chicago Cubs in 2012 and began to rebuild the Cubs franchise, culminating in 2016 when the Cubs won the World Series ending the team's 108-year drought.