Mark Shapiro to Blue Jays: Latest Contract Details, Comments and Reaction

Longtime Cleveland Indians executive Mark Shapiro announced Monday he will be leaving the franchise after more than two decades to become the president and CEO of the Toronto Blue Jays and Rogers Centre.

Shapiro said in a statement on the Indians' TribeVibe blog:

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While weighing those bonds carefully and seriously, I feel the unique and compelling nature of the Blue Jays President/CEO position warranted my consideration. This position represents a unique opportunity for me and one that I felt was the right new challenge to undertake. With mixed emotions, I will assume the Toronto Blue Jays CEO position upon the conclusion of the 2015 season.

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Shapiro, 48, has been part of the Indians organization since 1991. He has slowly worked his way up through the ranks, beginning as an assistant in the baseball operations department before eventually becoming the team's president. He has also served as Cleveland's general manager and as a player development director.

Since Shapiro joined the organization, the Indians have made the playoffs eight times and won two American League pennants.

"Given the person that Mark is, the significant leadership and values that he has brought to the organization and with everything he has helped us accomplish, it will be extremely difficult to see him leave," owner Paul Dolan said in a statement on the blog. "However, I hope that this new challenge brings happiness and fulfillment for Mark and his family."

ESPN's Pat McManamon was quick to weigh in on the impact:

Fox Sports' Ken Rosenthal reported the Indians will not receive compensation from Toronto for hiring Shapiro:

Shapiro will be replacing Blue Jays CEO Paul Beeston, who recently announced his retirement.

''Mark is a seasoned baseball veteran, whose leadership, drive for excellence, and commitment to all aspects of the game is impressive. We have confidence that he is the right person to lead the Toronto Blue Jays into the future and build upon the franchise's legacy,'' Blue Jays chairman Edward Rogers said in a statement, per the Toronto Star.

The Blue Jays have emerged in 2015 as perhaps the fastest-rising organization in baseball. They have an MLB-best run differential of plus-193 and made major moves at the trade deadline for a World Series push, most notably acquiring shortstop Troy Tulowitzki and pitcher David Price.

With a larger budget to match his higher profile, Shapiro should have little excuse but to keep Toronto in the title picture going forward.

Follow Tyler Conway (@tylerconway22) on Twitter.