From AZ Central

The Diamondbacks announced Friday that Jeff Moorad, general partner and chief executive officer, is stepping down. Team President Derrick Hall was promoted to President and CEO... Managing General Partner Ken Kendrick said. "Jeff was an integral part of the D-Backs’ many achievements on and off of the field since joining the organization in 2004. However, it was necessary for him to tender his resignation with the organization as he pursues the acquisition of the San Diego Padres."

It seems Moorad's purchase of the Padres is a good deal further along than being merely pursued:

Moorad said Friday he heads a "small but significant" group of investors that has an exclusive right to complete the specifics of negotiations with Padres owner John Moores. Moorad said he hopes the transaction can be completed in the next three months. Moorad will maintain his share of Diamondbacks ownership but would have to sell that if his effort to purchase the Padres is successful, Kendrick said. Kendrick would not reveal what share of the team Moorad owns but said "it is not an insignificant amount." Moorad's development of a group to purchase the Padres had reached the point when Major League Baseball rules required him to leave his job with Arizona, Kendrick said.

"We’ve made some mistakes, and we’ll make others. But we feel very good about these signings. This sets a good course." — Jeff Moorad, after signing the Huge Manatee and Troy Glaus. Other things for which Moorad probably needs to be thanked include the trade and extension for - whaddya know - his former client, Shawn Green and the extension given to Eric Byrnes. Good luck, San Diego. You'll need it.