With one of the highest payrolls but the second worst record in the National League, the Chicago Cubs fired general manager and vice president Jim Hendry on Friday.
Assistant general manager Randy Bush was named Interim general manager, the team announced.
"My family and I appreciate Jim's dedication during our time with the Cubs and thank him for his overall 17 years of service to the Cubs organization," team chairman Tom Ricketts said in a statement. "It is time for a fresh approach in our baseball leadership and our search begins immediately for our next general manager."
Hendry was hired in 1994 as director of player development. He was promoted to scouting director the next season. The 55-year-old Florida native was promoted to general manager in 2002 after serving as assistant to then-president Andy MacPhail.
Under Hendry, the Cubs hired two high-profile managers in Dusty Baker in the fall of 2002 and Lou Piniella in the fall of 2006.
The Cubs won divisions in 2003, '07 and '08. The 2003 team came within five outs of going to the team's first World Series since 1945.
The back-to-back playoff berths were the first for the franchise since 1907-08.
Rumors surfaced earlier in the season that Ricketts had conversations with former Diamondbacks general manager Josh Byrnes.
Rumors of discussion with former Philadelphia Phillies and Toronto Blue Jays general manager Pat Gillick surfaced a month ago but were shot down by people close to Ricketts.
Hendry and most of his front office have one year remaining on their contracts.
He signed a four-year, $5 million extension before the 2008 season.
Ricketts was scheduled to address the media at 11:15 a.m. CT at Wrigley Field.