Dave St. Peter says stepping down as Twins' CEO not related to team's sale

Dave St. Peter steps down as Twins CEO, Derek Falvey takes over

The Minnesota Twins announced Tuesday that Dave St. Peter is stepping down as team president and CEO after 22 seasons and 35 years with the team, and Derek Falvey will take his spot.

MINNEAPOLIS (FOX 9) - The Minnesota Twins announced a major leadership shakeup on Tuesday as the team is up for sale.

What's new?

Starting next year, Twins President and CEO Dave St. Peter will step down after 35 years and move to an advisory role. In turn, St. Peter was the Twins team president and CEO for 22 years. Twins President of Baseball Operations Derek Falvey will be promoted to president of baseball and business operations.

Assistant General Manager Jeremy Zoll will also be promoted to general manager. St. Peter said Tuesday discussions of a succession plan started with Jim Pohlad more than two years ago, and stepping down as president and CEO was not related to the team being up for sale.

"I met with Jim Pohlad, the only thing I didn’t anticipate in the succession planning process is along the way, the Pohlad’s would announce they’re going to explore a sale. It really is not tied in any way, completely my decision, and I think Derek Falvey is going to be a tremendous leader of this organization," St. Peter said.

Jeremy Zoll named Minnesota Twins new general manager

Jeremy Zoll spoke with reporters on Tuesday at Target Field after being named the team's new general manager. Derek Falvey is replacing Dave St. Peter as team president and CEO.

Context

St. Peter has been with the club since 1990, starting as an intern, and serving in a number of jobs, from pro shop manager to vice president of business affairs. He was named team president in 2002 and became CEO in 2016.

Falvey and Zoll both joined the team under St. Peter's reign as CEO.

Since St. Peter joined the Twins, they won the World Series in 1991 and made the postseason 11 times and won 10 division titles. Nine of those came in the American League Central Division, while the Twins also won the West in 1991. They ended an 18-game playoff losing streak in 2023, eliminating the Toronot Blue Jays in the Wild Card Playoffs, and also won their first playoff series in two decades.

"I’ve been at this a long time, I’ve loved every single minute of it. A lot of challenges, but so many good moments. In a leadership journey if you’re really being honest with yourself, you know kind of when it’s time," St. Peter said. "Working for the Twins has been an absolute privilege."

Falvey has worked with St. Peter for the last eight years and said St. Peter was the first person he met as he interviewed for the Twins' front office position. They've been partners ever since.

"The best part about this is the partnership I’ve had with Dave over the last eight years. When I first interviewed here, he was the first person I met with the Twins. He was the one who walked me over to the Pohlad offices," Falvey said. "When he brought this to the table, it was pretty clear to me that this was a pretty thoughtful exercise on his end. Something I was humbled by and honored to take on."

Recent changes

Last month, the Twins made two major announcements.

On Oct. 10, the Pohlad family announced it would explore options to sell the team. The family has owned the Twins since 1984. A spokesperson said the family came to the decision to sell over the summer.

Two days before that announcement, the team revealed it would stream all the team's games in 2025 through Major League Baseball, following the disintegration of its partnership with Bally Sports North. The Twins also replaced their hitting coaches.

The Twins finished the 2024 season 82-80, but had a 12-27 collapse over the final 29 games to fall out of the last spot in the American League Wild Card Playoffs.