Yzerman, who discussed his decision with the players Tuesday, has one year remaining on his contract and will continue to serve as a senior advisor. Julien Brisebois, previously an assistant GM, will assume the general manager duties, according to The Athletic.
The Lightning are coming off a franchise-best 113-point regular season and Game 7 loss in the Eastern Conference final to the eventual Stanley Cup champion Washington Capitals.
Tampa Bay Lightning general manager Steve Yzerman gestures during a news conference before an NHL hockey game against the Toronto Maple Leafs in Tampa, Fla., on February 26, 2018.
England 1-2 Spain: Hosts lose Nations League opener at Wembley
We were a bit disjointed in our pressing, but even when you press well against them they have some wonderful players. We are looking at a new Spain , a more direct team, just like Luis Enrique outlined when he was chosen as coach.
Following a very successful 22-season career on the ice, all with the Detroit Red Wings, Yzerman became Tampa Bay's GM in 2010. BriseBois has been Tampa Bay's assistant GM for the past eight years and he's been with the organization since 2001, long touted as an up-and-comer in front-office circles. Then-owner Mike Ilitch reportedly wanted to move Holland to an executive role to make room for Yzerman, but Holland declined the promotion.
For years, there have always been rumors of Steve Yzerman returning to Detroit to be a general manager, but it is important to note that the current Detroit general manager Ken Holland just signed a two year contract extension with the team this offseason. The Lightning were expected to hold a news conference later Tuesday.
Yzerman, 53, was first connected to the Red Wings' GM job when he worked in the team's front office from 2006-2010.
"Over the course of the last couple of years, there's been moments to reflect on my situation", Yzerman said.