MIAMI -- The Marlins and CEO Derek Jeter parted ways on Monday morning.

Jeter had been part of Bruce Sherman's ownership group that finalized a deal to purchase the Marlins in August 2017, with the sale completed in September of that year. Jeter owned a 4 percent stake in the franchise, overseeing day-to-day operations. As CEO, Jeter reportedly had a five-year deal that would have expired in 2022.

"The Miami Marlins and Derek Jeter announced today that they have agreed to officially end their relationship," Sherman said in a statement. "The Marlins thank Derek for his many contributions and wish him luck in his future endeavors.

"We have a deep bench of talent that will oversee both business and baseball decisions while we work to identify a new CEO to lead our franchise. The ownership group is committed to keep investing in the future of the franchise -- and we are determined to build a team that will return to the postseason and excite Marlins fans and the local community."

MLB Commissioner Rob Manfred released the following statement:

“On behalf of Major League Baseball, I thank Derek for his service to the Marlins, the communities of Miami and the game. Derek is a winner on and off the field. In addition to his valuable contributions as a front office executive, Derek was a highly respected voice on our Diversity and Competition Committees. He helped build a talented front office with the Marlins, including moving the game forward by hiring women in top roles in the Club’s baseball operations and executive leadership, and a foundation that has positioned the Marlins for long-term success. Derek is a pillar of our game and we look forward to his future contributions to Baseball.”

When Sherman's ownership group took over, the Marlins had eight consecutive losing seasons and one of the worst farm systems in baseball. Many Yankees connections joined the Hall of Famer Jeter in prominent roles -- from Gary Denbo (VP of player development and scouting) to DJ Svihlik (senior director of amateur scouting) and more. Three years later, Kim Ng made history with her hiring as general manager in November 2020.

The rebuilding period began during the 2017-18 offseason, when the organization dealt National League MVP Giancarlo Stanton, Marcell Ozuna, Dee Strange-Gordon and Christian Yelich. The following winter, J.T. Realmuto was traded. The deals brought back 17 players, including right-hander Sandy Alcantara and infielder Jose Devers, as well as prospects Sixto Sánchez (Marlins' No. 4) and Nick Neidert (No. 12). Zac Gallen, acquired as part of the Ozuna deal with the Cardinals, was later traded to the D-backs for shortstop Jazz Chisholm Jr.

From '18-21, the Marlins went 218-327, though they did reach the playoffs for the first time in 17 years as part of the COVID-19-impacted '20 season, advancing to the NL Division Series. In last August's MLB Pipeline rankings, the system ranked third. Earlier this month, Jeter had been present at the Marlins' Minor League development camp being held at the Roger Dean Chevrolet Stadium complex in Jupiter, Fla.

During a Dec. 1 press conference to announce the signing of Avisaíl García ($53 million free-agent contract) and contract extension for Alcantara ($56 million), Jeter noted that the club's perception had "changed in a positive way over the last few years." He went on to say that free agents had recognized the organization's depth and direction. Prior to the lockout, the Marlins also dealt for Gold Glove catcher Jacob Stallings, utility man Joey Wendle and reliever Louis Head and inked shortstop Miguel Rojas to a $10 million extension.