The Ottawa Senators have signed general manager Pierre Dorion to a three-year contract extension through the 2021-22 season, the team announced Friday.

"The goal is to win the Stanley Cup," said team owner Eugene Melnyk in a press release. "Having come within one goal of last season's Stanley Cup Final, we were hopeful entering this season. Obviously, our results have challenged those expectations. What remains unchanged is the dedication that goes into evaluating every aspect of this organization."

TSN Senior Hockey Reporter Frank Seravalli notes that the Senators took a similar approach to the New York Rangers in the release, hinting at a rebuild.

"Today's announcement reflects a renewed commitment to scouting, drafting and development. It may require changes to our lineup. Rest assured, we will only tolerate pain with an endgame in mind: building an organization that wins - at all levels - year in and year out."

Dorion was named Senators general manager in April of 2016, taking over for Bryan Murray. 

The Sens also announced that Tom Anselmi will be vacating his role as president and CEO after replacing Cyril Leeder last January. 

Anselmi was the chief operating officer of Maple Leafs Sports and Entertainment before resigning in 2013. 

After taking the Pittsburgh Penguins to Game 7 of the Conference Final last season, this one has been a different story for the Senators. Coming into play Friday, they sit at 19-25-9, good for seventh in the Atlantic Division.

They will be back in action Saturday in Toronto to take on the Maple Leafs.