Danny Ainge has announced his retirement as President of Basketball Operations of the Boston Celtics, after 18 years in charge of the team. Head coach Brad Stevens has been promoted into his role.

The Celtics were eliminated in the first round of the NBA Playoffs by the Brooklyn Nets on Tuesday night.
 

From the Celtics team statement:

BOSTON, MA - Danny Ainge - the only Celtic in the team's 74-year history to win championships both as a player and as a general manager - announced today that he is retiring from his role as President of Basketball Operations. Brad Stevens, who has served as the team's head coach for the last eight seasons, has been promoted to the team's President of Basketball Operations. Ainge will continue to work with the team on transition planning through the upcoming off-season. A search for a new head coach will begin immediately.

"Helping guide this organization has been the thrill of a lifetime, and having worked side-by-side with him since he's been here, I know we couldn't be in better hands than with Brad guiding the team going forward," said Ainge. "I'm grateful to ownership, all of my Celtics colleagues, and the best fans in basketball for being part of the journey."

"Danny has made all the difference over the past 18 years – our record of winning percentage and playoff victories is near the top of the league during that time. He has always been a relentless competitor and a winner. Red Auerbach told us Danny is 'lucky,' and he was right, but a lot of the luck came from his intense drive and his incredible basketball insights," said Wyc Grousbeck, Celtics Co-Owner and Governor. "Turning to Brad is a natural next step, since we have built a partnership over the past eight years, and he is a special basketball mind. We want him to lead us into the next great era of Celtics basketball."