The Minnesota Twins and team president Derek Falvey “mutually agreed to part ways,” the team announced Friday, less than two weeks before pitchers and catchers report to spring training.

“Over the past several weeks, Derek and I had thoughtful and candid conversations about leadership, structure and the future of the club,” said executive chair Tom Pohlad, who replaced his younger brother as the lead owner last month and now oversees the club’s business operations while he directs a search for Falvey’s replacement.

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“We reached a shared understanding that the needs of the organization are evolving and that a leadership transition is the best way to move forward.”

General manager Jeremy Zoll will keep leading the Twins’ baseball department, the team said in its release.

The change arrives on the doorstep of spring training and months after the Twins’ massive trade-deadline sell-off that saw the franchise deal a whopping 10 players, including three-time All-Star shortstop Carlos Correa and closer Jhoan Durán, less than two years removed from an ALDS appearance.

At the time, Yahoo’s Jake Mintz gave that tear-down an “F” when grading every team’s deadline deals.

“Any time you trade 10 players off the big-league roster during a season in which you planned to contend, you get a big, fat F, regardless of the prospects,” Mintz wrote on July 31.

“Dealing away Correa, whom Minnesota had hailed as a franchise cornerstone, was as deflating as it was shocking. What even is this team now? There are dark days ahead up north; a years-long winter of woe awaits.”

[Get more Twins news: Minnesota team feed]

Back then, the Twins, as a whole, were up for sale. But the Pohlad family ultimately decided against selling the franchise. Instead, on Aug. 13, it brought on “two significant limited partnership groups.” The Pohlad family has remained the principal owner of the club.

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The Twins finished last season 70-92 and fourth in the AL Central. Afterward, they fired manager Rocco Baldelli, who led Minnesota to a trio of division titles during his seven-year run. Former Pittsburgh Pirates manager Derek Shelton is the Twins’ new skipper.

As for Falvey, the 42-year-old executive had been with the franchise since 2016, when he was hired as executive vice president and chief baseball officer, coming off a stay as a scout and executive in Cleveland that culminated in a World Series appearance. In 2019, he was elevated to president of baseball operations in Minnesota. Ahead of last season, he was promoted and tasked with overseeing the business side, too.

During his nine seasons with the Twins, they collected three AL Central titles and made the playoffs four times. Minnesota famously ended an 18-game playoff losing streak with a sweep of the Toronto Blue Jays in the 2023 AL wild-card series.

“Following a series of thoughtful conversations with Tom that began after the ownership transition and progressed over the past few weeks, we both agreed this was the right time for us to part ways,” Falvey said in his statement Friday.

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He also noted: “On a personal level, I’m looking forward to taking some time to be with my family, reflect and consider what comes next. I don’t have specific plans yet, but I’m grateful for the experiences I’ve had here and excited about the next chapter when the time is right.”