The San Diego Padres have announced that team CEO Jeff Moorad has stepped down from that role with the Padres. Taking his place in the interim is team president and COO Tom Garfinkel. Dan Hayes from the North Country Times reports via one source that Garfinkel has already been running the Padres as it is. Moorad will stay on as a vice chairman and oversee the relationship with Fox Sports San Diego.
Moorad had dropped his applications to become the controlling partner of the Padres very recently. With him now stepping down, that explains why he dropped the application.
John Moores still owns the Padres. Moorad had had issues gaining the support of the other MLB owners in his attempts to become the controlling partner of the Padres. Hayes reports that him stepping down does not threaten the stability or security of the Padres. Moorad had two years left on his purchase of the team.