The Charlotte Hornets have announced that Rod Higgins has stepped down as the team's president of basketball operations.

The Hornets will now be reliant on Rich Cho, who has been named as the team's new president, to make decisions regarding signings as Charlotte prepare for a busy off-season.

"Rod has been a consummate professional throughout his time with the team," said Michael Jordan, owner of the Hornets.

"Thanks to his hard work and commitment, we have an improved roster and we are poised for success in the future."

Despite being given the new role, Cho will also continue in his capacity as general manager of the team.