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Gideon Yu steps down as 49ers team president

The 49ers announced on Tuesday afternoon that team president Gideon Yu has stepped from his role. The long-time team executive Paraag Marathe will be promoted to team president in his place.

In another corresponding move Al Guido, who worked intimately with the 49ers and the Santa Clara Stadium Authority as the Senior Vice President of Global Sales for Legends, will take Marathe’s role as the team's Chief Operating Officer.

San Francisco 49ers CEO Jed York said the following statement on Yu stepping down:

"As we move closer to the opening of Levi’s® Stadium, our organization will continue to evolve and grow. Gideon, Paraag and Al have been instrumental in making the new stadium a reality, and I couldn’t be more excited about the future of our management team and the 49ers organization. Paraag and Al have developed a tremendous working relationship and I am deeply confident in their leadership."

Yu himself also tweeted that he is stepping down and said he will still be with the team. He also tweeted towards York with the following statement:

"Thanks to @JedYork for entrusting me to complete your stadium project. Looking fwd to many more years together as 49ers’ co-owners!"

Yu was in charge of all business, financial and strategic operations for the 49ers. He also played one of the most major roles in pushing for Levi's® Stadium to become a reality. While it was initially planned to be ready for 2015, Yu was a key person to have the billion-dollar stadium open for the 2014 season.