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Lucchino To Step Down As Red Sox' President, CEO

BOSTON (CBS) -- Larry Lucchino will step down as President and CEO of the Boston Red Sox at the end of this year, WBZ has confirmed.

WBZ also has confirmed that Sam Kennedy will take over as team president starting in 2016.

A major league source tells WBZ that Kennedy, who is the team's executive vice president and chief operating officer, will be taking over only as president, meaning that the baseball side may be undergoing a reconstruction.

In an email to WBZ, Sox Principal Owner John Henry said of Kennedy: "Sam, for many years now has been Larry's choice to eventually succeed him as president of the club. Sam has also been the choice of the partners comprising Fenway Sports Group. He is surrounded by a very talented group of men and women.

"He has been a much-sought-after baseball executive over the past 10 years. At least one sports franchise a year has offered him their presidency but he knew this day would eventually come. We are grateful that he stayed."

The 69-year-old Lucchino hinted in spring training that he may be looking to slow down at some point and that appears to be the case here.

Lucchino tells WBZ that "There has been a process for a successor and a team plan...and one piece is Sam Kennedy will take over at the end of the year as the new president of the team."

He has mentored Kennedy for the past 20 years in both San Diego and Boston.

In an email late Saturday night, Kennedy told WBZ "I understand what a privilege it is to work for the Red Sox having grown up just a mile from Fenway Park. I fully embrace the responsibility that will come with this opportunity and am grateful to Larry for his mentorship and to John and Tom for their confidence in me. This is a testament to the amazing team of people of John, Tom, and Larry have assembled on Yawkey Way."

Lucchino arrived in Boston in 2002 and along with Henry and Chairman Tom Werner, has led the Red Sox to three World Series titles.

In the email, Henry told WBZ "Larry Lucchino is a hall of fame baseball executive who has left an indelible mark on Fenway and on the relationship between the Boston Red Sox and New England. We've won three world championships under his leadership and set the longest sellout streak in professional sports history. His accomplishments are many and will have a lasting impact."

He has also been the driving force in a complete renovation of Fenway Park as well as making the Red Sox one of the most successful businesses in all of sports.

With Lucchino stepping down, look for the Red Sox to restructure their baseball operations in the next few weeks as well.

Watch: Red Sox Fans React To Lucchino Stepping Down After The Season

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