From mapleleafs.com:
The Toronto Maple Leafs announced Tuesday that John Ferguson’s contract as vice president and general manager, which expires June 30, 2008, will not be extended. As a result, he has been relieved of his duties effective immediately. Cliff Fletcher, who served with the Leafs as team president, chief operating officer and general manager between 1991 and 1997, has been appointed to serve as interim general manager.

“After full consideration of the Leafs’ situation, it has become clear that change and a new direction is needed. The decision has been made that John will not be receiving a new contract at the end of this year, and it’s in the best interests of the Leafs and of John to begin the transition immediately,” said Richard Peddie, president and chief executive officer of Maple Leaf Sports & Entertainment Ltd. “John has been given the opportunity and the resources he requested to deliver results from the strategic plans that he put in place when he was named general manager in 2003, and while the new collective bargaining agreement required some re-shaping of those plans, the results have fallen short of what our organization, including John, and our fans expect.
“We will always be grateful to John for his passion, dedication and commitment to putting a winning team on the ice. He’s a man of the highest integrity, who withstood often unfair public criticism with dignity and class. He represented our organization and our community in a first class manner. We wish him well in what we expect will be a long and productive hockey career.”
Ferguson became the 12th general manager in Leafs franchise history on August 29, 2003, and during his tenure the club reached at least 90 points and 40 wins in each of the three seasons played. Toronto has a combined record of 145 wins, 110 losses, 10 ties, 13 overtime losses, and 17 shootout losses for a .559 points percentage.
Fletcher, who was inducted into the Hockey Hall of Fame in the Builder category in 2004, brings more than 50 years of experience to his new role with the Leafs.
“Cliff Fletcher is the ideal person to lay the groundwork of positive change for the Leafs,” said Peddie. “As all of our general managers have had, he will have the autonomy and responsibility for all hockey decisions with a focus on establishing a foundation from which the next general manager can build. He will guide us through the upcoming trade deadline and toward the draft and free agent signing period.”
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