NBA Commissioner David Stern will stand down from his role in February 2014 after 30 years at the helm, the league said Thursday.
Glen Taylor, chairman of the NBA's board of governors, said the board had authorized negotiations with Deputy Commissioner Adam Silver to succeed Stern, who is the league's longest-serving commissioner.
Stern, 70, has presided over a period of expansion and growth for the NBA, both domestically and internationally, and last year concluded a new Collective Bargaining Agreement with players after a five-month lockout.
"I feel great, I am enjoying my job but I am looking forward to doing other things," Stern said during a news conference in New York. "I'm standing down, not retiring. ... I told them that it's been a great run," he added.
Stern's departure date will mark the 30th anniversary of his takeover as commissioner from Larry O'Brien.