Mike Gillis is out as the president and general manager of the Vancouver Canucks.
After helping the Canucks to five straight Northwest Division titles, Gillis saw the team miss the playoffs this season for the first time in six years.
TSN's Farhan Lalji has been told that Trevor Linden will be named the Canucks' president on Wednesday. Lalji also added via Twitter that, "I'm also told there is a buyout provision in Gillis' contract whereby the Canucks only need to pay half of the $8 million remaining on his deal." He added that there is a similar provision in head coach John Tortorella's deal if he also gets let go at some point.
Canucks chairman and governor Francesco Aquilini will discuss the move further in a news conference that can be seen live on TSN2, TSN.ca and TSN GO on Wednesday at 1:30pm et/10:30am pt.
"On behalf of my entire family, I would like to sincerely thank Mike Gillis for his hard work and the many contributions he made on and off the ice during his tenure," said Aquilini in a statement on Tuesday. "The Vancouver Canucks had success under Mike's leadership, and we nearly reached our ultimate goal; but I believe we have reached a point where a change in leadership and new voice is needed.
"I also want to thank our fans for their support for the Vancouver Canucks through a difficult and frustrating season. We haven't met their expectations or ours. We are committed to bringing the Stanley Cup to Vancouver for our fans and we will continue to do everything possible to reach that goal."
After losing Game 7 of the Stanley Cup Final in 2011, the Canucks have won only one playoff game in the two following postseasons.
The Canucks' 2013 playoff exit led to the firing of head coach Alain Vigneault and the signing of former New York Rangers head coach John Tortorella to a five-year contract.
Gillis has very publicly been dealing with his goaltending situation in recent years. Cory Schneider was named the starting goalie going into the 2012-13 season after the team was unable to trade Roberto Luongo and his long-term contract. Schneider, however, was traded to the New Jersey Devils at the 2013 NHL Draft, putting Luongo back in the starter's role for the 2013-14 season.
But the struggling Canucks would finally deal Luongo prior to this season's Mar. 5 trade deadline, sending the 35-year-old back to the Florida Panthers and leaving unproven Eddie Lack as the starting goaltender down the stretch.
Gillis received the General Manager of the Year Award in 2011 after the team set a franchise record with 117 points in the regular season and won the Clarence Campbell Bowl as the Western Conference Champions.
After a 2011-12 season that saw the Presidents' Trophy-winning Canucks upset by the eighth-seeded Los Angeles Kings in the first round of the Stanley Cup Playoffs, Gillis was signed to a contract extension.