Chief operating officer Paraag Marathe has been promoted to team president of the San Francisco 49ers to replace co-owner Gideon Yu, who is stepping down.
According to a statement released by the 49ers, Al Guido, who was senior vice president of Global Sales and Legends and worked closely with the team and the Santa Clara Stadium Authority, has been named to replace Marathe at COO.
“As we move closer to the opening of Levi’s Stadium, our organization will continue to evolve and grow,” said 49ers CEO Jed York. “Gideon, Paraag and Al have been instrumental in making the new stadium a reality and I couldn’t be more excited about the future of our management team and the 49ers organization. Paraag and Al have developed a tremendous working relationship and I am deeply confident in their leadership.”
Yu, a former chief financial officer at both Facebook and YouTube, said he will retain his share of the team:
Hey #49erFaithful, I’m stepping down as 49ers’ President. Been an awesome ride. Will stay co-owner / #1 fan. Hope you love the new stadium!
— Gideon Yu (@gideonyu) January 21, 2014
Marathe has been with the team for more than 13 years.