Michael R. Yormark, President, Sunrise Sports & Entertainment, Florida Panthers, BB&T Center

Michael R. Yormark, President, Sunrise Sports & Entertainment, Florida Panthers, BB&T Center (Courtesy, Michael Yormark / June 11, 2013)

New Florida Panthers owners Vinnie Viola and Doug Cifu have been methodically restructuring the internal organization of the team on all levels, and on Monday they announced that longtime CEO and president Michael R. Yormark is out and team executive Rory Babich's role has been expanded on the hockey side.

Yormark, who had been with the Panthers since 2003, announced he is resigning to join rapper Jay Z's Roc Nation Sports agency as President & Chief Strategy Officer.

"It is with a heavy heart that I write to inform you that after 11 years of incredible memories, moments and relationships, I am departing Sunrise Sports & Entertainment to open an exciting new chapter in my career," Yormark said. "I am honored and humbled to be joining Jay Z’s Roc Nation Sports. Roc Nation represents a wonderful new adventure for my family and me, and I am thrilled to join an exciting, innovative organization."

Babich was named the team's new CEO and president and will work closely with Panthers General Manager Dale Tallon, who he has developed close friendship since meeting in December. While his background and expertise is in operating businesses and putting multi-million dollar deals together, including the Panthers' sale, Babich is an avid, knowledgable hockey fan. He was brought in by Viola as his executive senior advisor and has been working closely with Cifu.


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In his new role, Babich will be responsible for all business and hockey operations.

“We appreciate Michael's many years of hard work and service to the organization and wish Michael much continued success in his new role," Viola said. "While we are sorry to see Michael leave, he has received an offer for a tremendous opportunity."

Yormark had been a driving force in building the Sunrise arena into a major player in the concert and special event's field.

"I had the opportunity to work with so many wonderful people including our staff, partners and fans and I will never forget some of the great memories and challenges that we shared together," said Yormark.