Michael Yormark leaves Florida Panthers to work with Jay Z's Roc Nation

Florida Panthers chief executive Michael Yormark is leaving the team to join Jay Z's Roc Nation.

The Panthers promoted Rory Babich on Monday to fill Yormark's roles as president and CEO. The team also says general manager Dale Tallon will be more involved in business operations.

Babich and Tallon also will be alternate governors for the team.

Yormark joined Sunrise Sports and Entertainment as its Chief Operating Officer in September 2003, was promoted to president in August 2007 and then to president and CEO of the team and SSE last September. With Roc Nation, Yormark will serve as President and Chief of Branding and Strategy.