MILWAUKEE (CBS 58) -- Peter Feigin is leaving his role as Milwaukee Bucks president, with Josh Glessing taking over the position, the team announced Monday, Jan. 5.

Glessing, who served as chief of strategy and development for Haslam Sports Group, will oversee team business operations. He will work with Feigin during the coming months to aim for a smooth transition.

Feigin joined the Bucks in 2014 and played a key role in transforming the franchise. His leadership included the 2021 NBA Championship, the team's rebrand and the creation of Fiserv Forum and Deer District, according to the team.

Glessing, a Wisconsin native, has been associated with the Bucks for more than a decade and most recently led Haslam Sports Group's investment into the Bucks in 2023. He previously worked at Goldman Sachs and spent two seasons as interim president of business for the MLS' Columbus Crew.

Bucks' majority owners Wes Edens, Jimmy and Dee Haslam and Jamie Dinan thanked Feigin for his vision and commitment that reshaped the organization over 12 years.