Astros CEO Postolos resigns

The Houston Astros announced Monday that George Postolos has resigned as the club's president and chief executive officer.

Postolos played an instrumental role in helping Jim Crane and his group purchase the franchise. He worked with Crane for the past seven years in an attempt to acquire a sports franchise and was the club's president and CEO since November 2011.

"We appreciate George's hard work in the acquisition of the Astros and his commitment to the organization," said Crane in a statement Monday. "I'd also like to personally thank him for the assistance that he has provided to me over the last several years and wish him the best of luck in the future."

Postolos will return to his consulting practice, advising investors on acquisitions and strategy in major league sports.