Yzerman informed players of the decision Tuesday afternoon after the informal skate at the Ice Sports Forum in Brandon, the Athletic first reported.
He'll reportedly stay in Tampa through this season in an advisory role, while assistant GM Julien BriseBois will take over.
Yzerman, who was named Lightning GM on May 25, 2010, guided Tampa to the Cup Final in 2015 and watched the team fall in six games to Chicago.
She's the most inspiring person I know
I haven't cheated in my life. "'Honey are you giving Quay Quay a kiss now that she fixed her arm", Williams can be heard saying. The tennis star is a Jehovah's Witness, and recently explained that members of the religion don't have birthday parties.
Steve Yzerman is stepping away from his role as the Tampa Bay Lightning general manager, a source confirmed to ESPN. He is considered to easily be one of, if not the best general manager in the entire league with how he turned the Lightning around from basement dweller to a Stanley Cup contender year after year.
Before taking on an executive role, Yzerman spent his entire National Hockey League playing career from 1983 to 2006 with the Red Wings and helped Detroit win three Stanley Cups between 1997 and 2002. Tampa has reached three conference finals and one Stanley Cup final since Yzerman became the general manager in 2010.
Tampa Bay Lightning general manager Steve Yzerman gestures during a news conference before an NHL hockey game against the Toronto Maple Leafs in Tampa, Fla., on February 26, 2018. He promoted Jon Cooper to head coach in 2013, re-signed captain Steven Stamkos and locked up defenceman Victor Hedman to a long-term deal in 2016, traded for J.T. Miller and Ryan McDonagh at last year's trade deadline and got Nikita Kucherov signed to an extension this summer.
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CBS chief executive Les Moonves is exiting the company, effective immediately, amid a flurry of sexual misconduct allegations . CBS's board has been in talks with Moonves to negotiate his exit, a source familiar with the matter previously told Reuters .
April 7, 2014: Yzerman signs four-year contract extension with Lightning that runs through 2018-19 season.
"We felt it was important to let everyone know what we were doing, end any potential speculation", Yzerman said.
London must provide fingerprints of Skripal case suspects to Interpol - diplomat
Sergei Skripal was a granted refuge in the United Kingdom following a 2010 spy exchange between the US and Russian Federation . Sergei Skripal and his daughter Yulia survived nerve-agent poisoning in Britain after spending weeks in hospital.