Larry Lucchino to Step Down as President, CEO of Red Sox

Larry Lucchino's run as president and CEO of the Boston Red Sox will come to an end when the 2015 Major League Baseball season is over. 

According to Michael Silverman and Steve Buckley of the Boston Herald, the plan is for Red Sox executive vice president Sam Kennedy to take over as president with the CEO position going unfilled "for the time being."

Even though Lucchino has played a pivotal role in helping turn the Red Sox into one of MLB's best and most valuable franchises, the report noted this move didn't come out of nowhere:

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The Red Sox have been exploring a succession plan from Lucchino for some time. With his contract expiring at the end of the year, the club finally decided the time was right for Lucchino's everyday responsibilities to come to an end. A key factor in the timing also was the club's desire to promote, and not lose, the next generation of leaders, topped by Kennedy, in the Red Sox' executive branch.

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Lucchino, per Dan Shaughnessy of the Boston Globe, offered insight into the simple reason, saying, "I'll be 70 in September. That's sort of why I'm ready to step back."

Red Sox chairman Tom Werner told Silverman and Buckley the franchise wants to keep Lucchino involved in some capacity. 

“We are hopeful and confident that we will conclude an agreement with Larry going forward where he will continue to be an integral part of upper management,” Werner said. “He will have less of an everyday role but he will continue to have an important strategic role not just with the Red Sox but also within Major League Baseball.”

Lucchino is part of the ownership group led by John Henry that purchased the Red Sox in 2002. During his tenure, the franchise has won three World Series titles (2004, 2007, 2013) and made a total of seven playoff appearances in 14 years.

Kennedy will have big shoes to fill, but Red Sox ownership clearly believes he is the right man to help lead the franchise into the future by making this announcement public two months before the season ends. 

Even though the Red Sox have struggled since winning the 2013 World Series, Lucchino's impact can't be understated. He's proved to be an intelligent businessman and baseball mind.