The Colorado Rockies are in search of a new general manager after Jeff Bridich stepped down from the position on Monday, the club announced.

The Rockies announced Monday that the decision was a mutual agreement with Bridich.

Bridich joined the Rockies in 2004, spending the past seven seasons overseeing their baseball operations. Under Bridich, Colorado made the postseason in 2017 and '18, but the handling of former star Nolan Arenado might have helped seal his fate.

After signing Arenado to an eight-year, $260 million deal in 2019, the team took a step backward, finishing in fourth place in each of the past two seasons. Arenado was traded to the St. Louis Cardinals earlier this year after expressing disappointment in the direction of the organization.

Greg Feasel, who on Monday was appointed as team president in addition to his role of being in charge of the club's business operations, will oversee baseball operations.

Bridich said in a statement that he recently had a conversation with owner Dick Monfort and Feasel about the team's future.

"It became abundantly clear that ushering in a new leadership structure is critically important,'' Bridich said. "With that in mind we arrived at this decision to part ways, and ultimately it will be what is best for the Rockies and for me. Change can be a great thing for an organization and for the individuals who comprise it. Dick has a clear vision for the Rockies, and after nearly seven seasons as General Manager I believe it is time for someone else to help lead that vision.''

The Rockies will name an interim general manager for the rest of the season before searching for a new general manager after the 2021 season.

Arenado was traded to the Cardinals on Feb. 1 for Austin Gomber and four minor leaguers in a deal that was criticized across the baseball community. As part of the trade, the Rockies agreed to pay St. Louis $51 million of the $199 million remaining on Arenado's contract at the time. Arenado's contract was amended after he was traded.

Another big decision for Colorado is looming with All-Star shortstop Trevor Story, who is set to become a free agent at the end of the season. He appears to be in line for a sizable payday, too, after the San Diego Padres and shortstop Fernando Tatis Jr. finalized a $340 million, 14-year contract and New York Mets shortstop Francisco Lindor signed a 10-year, $341 million contract.

Colorado right-hander Jon Gray also will be a free agent.

Feasel is in his 26th season with the team. He's been the executive vice president and chief operating officer since 2010.

The Associated Press contributed to this report.