Trail Blazers president McGowan resigns amid Olshey investigation

Portland Trail Blazers president Chris McGowan is resigning from his position, the team announced Friday.

The Trail Blazers promoted current chief commercial officer and executive vice president Dewayne Hankins to president of business operations, and he will succeed McGowan.

The resignation comes amid Portland's investigation into president of basketball operations Neil Olshey, which the organization launched Saturday after being notified of concerns regarding the workplace environment at the club's practice facility. The Blazers partnered with an outside firm for the probe, which remains ongoing.

The 48-year-old McGowan said the Olshey investigation had no bearing on his decision, according to The Athletic's Jason Quick. Instead, he noted that "there's a lot of things that led to this," including his desire to devote more attention to his teenage sons.

McGowan, who is also the chief executive officer of the franchise's parent company Vulcan Sports and Entertainment, will formally step down on Nov. 26. He has been with the NBA team since 2012, following his previous tenure with Anschutz Entertainment Group in Los Angeles.

"We are grateful for Chris' contributions since joining the Trail Blazers nearly a decade ago," team owner and chair Jody Allen said in a statement. "I appreciate his dedication to the organization and to our fans, and we wish him well in his next chapter."