In a mutual decision, Ken Holland will not be returning as the general manager of the Edmonton Oilers once his five-year contract expires on July 1. Edmonton CEO of hockey operations, Jeff Jackson, announced the news on Thursday and will be acting as the interim GM while conducting the search for a permanent replacement.

Jackson expressed his appreciation for Holland's contributions, highlighting his professionalism and personal qualities. The Oilers qualified for the NHL postseason in each season under Holland's leadership, showcasing his ability to create a competitive team. However, the team fell short of their ultimate goal, reaching Game 7 of the Stanley Cup Final but ultimately losing to the Florida Panthers.

Before joining the Oilers, Holland had an illustrious 22-year career as the general manager of the Detroit Red Wings. He led the team to three Stanley Cup victories in 1998, 2002, and 2008, and was inducted into the Hockey Hall of Fame in 2020.

Jackson made it clear that he is not interested in permanently taking on the role of GM and will begin the process of interviewing candidates immediately. Rick Pracey, Edmonton's director of amateur scouting, will oversee the upcoming draft for the team.

The Oilers face a busy offseason with a number of unrestricted free agents to sign and crucial decisions to make regarding their roster. With limited time between the end of the season and the upcoming draft and free agency period, Jackson emphasized the urgency of finding a new general manager.

During Holland's tenure, the Oilers made impactful signings and trades, surrounding star centers Connor McDavid and Leon Draisaitl with a competitive team. Notable moves included the signing of Zach Hyman, who had a career-best season with 54 goals, and the trade for defenseman Mattias Ekholm.

As the search for a new general manager begins, the focus shifts to addressing the team's pending unrestricted free agents, such as Connor Brown, Sam Carrick, and Corey Perry, along with decisions regarding goaltending options.

One key figure whose contract negotiations are looming is Leon Draisaitl, who had a standout season with 106 points. Discussions with his agent, Mike Liut, are expected to take place during the upcoming draft week.

The Oilers organization will now navigate the offseason with the goal of building a team that can make another deep playoff run under new leadership.