PITTSBURGH -- Penguins CEO David Morehouse stepped down Wednesday, ending a 16-year run with the franchise that included three Stanley Cup titles.

Morehouse did not provide an explanation for his decision in a release. The Penguins changed ownership last fall when Fenway Sports Group bought the club from Hall of Famer Mario Lemieux and Ron Burkle.

"I'm confident that the Penguins' future is in good hands with Fenway Sports Group," Morehouse said in a statement. "The new ownership group prioritizes winning and that has always been the philosophy of the Pittsburgh Penguins. They have experience running successful franchises and we have some of the best staff in sports already in place. Together, the legacy of the Penguins is sure to continue."

Morehouse served as a consultant on the team's arena project in 2004 and was hired as team president in 2007 before being promoted to CEO in August 2010. The Penguins won the Stanley Cup in 2009, 2016 and 2017 during Morehouse's tenure.

Pittsburgh is also heading to the playoffs for a 16th straight season, the longest active streak in North American professional sports. The Penguins have become one of the hottest tickets in the NHL in the process. The club had a home sellout streak of 633 games that stretched from Feb. 14, 2007, to Oct. 16, 2021.

Team president Brian Burke and COO Kevin Acklin will run the day-to-day operations for the club, which finishes up the regular season at home on Friday night against Columbus.

"David presided over an era that is formidable in every way. We are grateful for the leadership he has provided throughout this remarkable period, overseeing the construction of a new arena, record sellouts, and Stanley Cup championships," FSG principal owner John Henry and chairman Tom Werner said in a statement. "David has been instrumental in making the Penguins one of the most successful franchises in the NHL and we are thankful for the immense time, energy, and love he has poured into the organization."

The Penguins, who lost to the Edmonton Oilers 5-1 on Tuesday night, are not surging into the postseason this year. They will not have home-ice advantage in Round 1 and will face either the New York Rangers, the No. 2 seed in the Metropolitan Division, or the Florida Panthers, the top seed in the Eastern Conference.

The Associated Press contributed to this report.