The Chicago Blackhawks announced the firing of president and CEO John McDonough on Monday.

McDonough has been a fixture in Chicago sports for the past four decades and joined the team in 2007, ushering in a new period of relevance for the club. The title of CEO was added to his duties in 2011.

"As difficult as this is, we believe it was the right decision for the future of the organization and its fans," chairman Rocky Wirtz said in a statement.

Under McDonough, the Blackhawks won three Stanley Cups in 2010, 2013 and 2015 and McDonough spearheaded the returns of Tony Esposito, Bobby Hull and Stan Mikita as team ambassadors.

Forbes called McDonough's work with the team "the greatest sports-business turnaround ever."

Wirtz says the club will begin the search for a new executive immediately.

"While we can reassure our fans there will be hockey again, no one knows what that will look like," Wirtz said. "What we do know is that it will take a new mindset to successfully transition the organization to win both on and off the ice."

Danny Wirtz will serve as team president in the interim.

Prior to joining the Blackhawks, McDonough spent 25 years with the Chicago Cubs.