Jerry Colangelo will step down from his position as USA Basketball Chairman following the end of his second term later this month. A new Chairman will be elected by the USA Basketball Board of Directors at its annual meeting on Nov. 14, according to a press release from USA Basketball. Colangelo will continue to serve as the Managing Director of the USA Basketball Men’s National Team.

More from USA Basketball:

“Given the coaching change and the challenge of assembling a group of players for FIBA’s new competition schedule, this is a good time to devote my full attention to the Men’s National Team,” said Colangelo. “As Chairman of USA Basketball, I’m proud of what our teams at all levels have accomplished and how our players have embraced the responsibility of representing their country.  I look forward to working with the next Chairman to ensure that we continue to honor and build on USA Basketball’s rich tradition.”

Colangelo Joined USA Basketball in 2005 following Team USA’s Bronze showing at the ’04 Olympics in Greece. Team USA has won Gold in three straight Olympic Games since Colangelo joined.

According to Woj, Colangelo will be replaced by retired General Martin Dempsey, former Joint Chiefs of Staff:

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