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Larry Lucchino Issues Statement On Stepping Down As Red Sox CEO

BOSTON (AP) — Larry Lucchino, who is stepping down as president and CEO of the Boston Red Sox, says "the end of the year is a good time for this change."

Lucchino, 69, was part of the ownership group that purchased the Red Sox in 2002. Boston won the World Series two years later, and added two more titles in 2007 and 2013.

"As far back as 2004, the year of our first world championship, I started to plan for the day when I would want to cut back a little," he said in the statement released by the team Sunday. "I even inserted a clause to that effect in my contract."

He said that Sam Kennedy, who has worked with him for 20 years, was his choice as a replacement.

"I have now been President/CEO of the Red Sox for 14 years," Lucchino said. "I love the Red Sox, I love Fenway Park, and I love Boston. It's my home. It's never easy to leave a job you love, but I look forward to the next chapters."

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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