Derek Jeter is stepping down as the Miami Marlins CEO, agreeing to a mutual separation with the organization that is effective immediately.
The Hall of Famer was part of an ownership group headlined by Bruce Sherman that bought the Marlins in September 2017. Jeter obtained a 4% stake in the franchise and took over as CEO, serving as the executive of day-to-day operations on the baseball side.
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“The organization is stronger today than it was five years ago, and I am thankful to have been a part of this team.”
Former Miami Marlins CEO Derek Jeter, via The Athletic
According to Ken Rosenthal of The Athletic, Jeter and the Marlins agreed to go in separate directions after a prolonged disagreement regarding the vision for the franchise.
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Jeter was the first Black chief executive officer in MLB. He also voluntarily waived his $5 million salary in 2020 when the COVID-19 pandemic cost baseball billions of dollars.
While Jeter’s future as a baseball executive is uncertain, given his mixed results as the Marlins’ CEO, his legacy is protected by his success on the diamond.