Penguins CEO David Morehouse stepped down Wednesday, ending a 16-year run with the franchise that included three Stanley Cup titles.

Morehouse did not provide an explanation for his decision in a release. The Penguins changed ownership last fall when Fenway Sports Group bought the club from Mario Lemieux and Ron Burkle.

"I'm confident that the Penguins' future is in good hands with Fenway Sports Group," Morehouse said in a statement.