The Memphis Grizzlies fired chief executive Jason Levien and player personnel director Stu Lash on Monday after a 50-win season that ended with a first-round NBA playoff exit.
The Grizzlies said the decision for the departures was made after Levien and Lash had meetings with management.
"Our franchise has made tremendous strides over the last few seasons and we thank Jason for his hard work and dedication and wish him nothing but success in his future endeavors," said Grizzlies majority owner Robert Pera.
The Grizzlies finished seventh in the Western Conference this season under first-year coach Dave Joerger but were ousted in the opening round of the playoffs by Oklahoma City.
"Rest assured that we remain as committed as ever to bringing a championship to this great city and we are confident that when the new season begins our fans will be excited about both our roster and the direction of our organization," Pera said.
Grizzlies general manager Chris Wallace will take over interim responsibility for basketball operations while chief operating officer Jason Wexler remains responsible for the team's business operations.