The Minnesota Twins announced Tuesday that Derek Falvey will become the team's president in both baseball and business operations in place of Dave St. Peter.

St. Peter, in turn, will transition from president and CEO to the role of strategic adviser when these moves take effect in the first quarter of 2025.

Also Tuesday, vice president/assistant general manager Jeremy Zoll was promoted to senior vice president/general manager, effective immediately.

These moves were approved by Twins control owner Jim Pohlad and club executive chair Joe Pohlad. The Pohlad family has owned the franchise since 1984 but recently started exploring the possibility of a sale.

"I am incredibly honored and excited to take on these expanded responsibilities, and I'm deeply grateful to Jim, Joe and the entire Pohlad family for their trust and support as we move forward," said Falvey, who was hired in October 2016 to succeed Terry Ryan.

"Working alongside such a thoughtful ownership family and an exceptional leadership team is a privilege I don't take lightly."

St. Peter, 57, joined the organization as an intern in 1990 and elevated to the role of president in November 2002.

"Since joining the Twins in 1990, I've always felt it was a privilege to work for this franchise and serve this fanbase," St. Peter said. "That sense of responsibility drives me every day and fuels a relentless effort to make Twins baseball better. I am incredibly proud of our organization's continued growth, enhanced impact on our community and the positive development of our people. Never have we had more collective talent across the Twins organization and that foundation will lead to an even brighter future."

Minnesota finished the 2024 season with an 82-80 record, four games out of a wild-card spot following a late-season swoon.