Minneapolis/St. Paul – The Minnesota Timberwolves and Lynx have announced that Chief Financial Officer Roger Griffith will be resigning his position effective on April 15. The organization will be promoting current Vice President of Finance, Pete Stene, to the role of Chief Financial Officer upon Griffith’s departure from the organization.
In his duties as CFO, Griffith was responsible for overseeing finances for both the Timberwolves and the Lynx organizations. He led efforts for accounting, risk management, financial reporting, budgeting, insurance, cash management and investing. He also worked alongside basketball operations for both organizations in managing the salary cap. Griffith recently led the financial management surrounding the teams’ training facility at Mayo Clinic Square and Target Center renovation. He has also played a vital role in helping the Lynx become a successful team in the WNBA, orchestrating the basketball operations as the General Manager for the four-time WNBA champion Lynx.
“Roger’s leadership and dedication to the Timberwolves and Lynx franchises is unparalleled,” said Timberwolves and Lynx owner Glen Taylor. “For the last 24 years, he has guided many key aspects of our organization, showing great leadership and decision-making ability that will continue to benefit us for years to come. Through our transition to Mayo Clinic Square, his work on the Target Center renovation project, and the leadership he demonstrated in constructing the roster to help lead the Lynx to four WNBA titles, Roger has clearly established himself as one of the great sports executives in our market and will be missed.”
Stene is in his 15th season with the Timberwolves and Lynx and in his sixth season in his current role as Vice President of Finance. He oversees the day-to-day operations of the accounting and box office departments directing financial policies and practices in the areas of general accounting, audit, tax and league reporting. Prior to joining the organization, Stene spent seven years working for Target Center’s various management companies as its director of finance.
“Roger’s experience and knowledge has been an unmatched asset to our organization for nearly a quarter of a century, and he will be greatly missed,” said Ethan Casson, Timberwolves and Lynx CEO. “We are excited about the opportunity to elevate Pete Stene into his new role. Pete is no question the best person for the job, and we envision a seamless transition with Pete assuming these duties. Pete’s professionalism and high respect among his peers and within our market make him a natural fit for this role.”