The Portland Trail Blazers announced in a statement Friday that Chris McGowan will resign as President and CEO after nine years with the organization.
The Trail Blazers will undergo a president transition with Executive Vice President Dewayne Hankins taking over as the franchise's new President of Business Operations.
McGowan thanked the Blazers organization and the Allen family for the opportunity to lead the team in a statement on Twitter.
"I want to thank Paul Allen, Jody Allen and Bert Kolde for giving me the opportunity to lead this great organization over the past nine years," McGowan said.
"In addition, I want to thank our amazing staff for their tireless dedication to creating extraordinary moments at the Moda Center and in the community, and especially thank our players who represent everything that is good about Portland."
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McGowan's resignation comes shortly after the Blazers launched an investigation into allegations of president of basketball operations and general manager Neil Olshey creating a hostile work environment for his peers and Blazers employees.
Olshey and McGowan both joined the franchise in 2012.