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New owner Jimmy Haslem was approved Tuesday morning, first move was eliminating Holmgren, promoted Joe Banner to his position.
It didn't take long to confirm what many people figured.
Jimmy Haslem was approved as the new majority owner of the Cleveland Browns, and with it, announced President Mike Holmgren will retire at the end of this season.
Former Eagles president Joe Banner will immediately assume executive leadership of the team.
Holmgren failed to deliver in his time with the Browns - understatement of the year. His .263 win percentage since 2010 is the second-lowest in the NFL during that time.
In perhaps the nail that sealed the coffin, Holmgren was unsuccessful in trading up with the St. Louis Rams for the second overall pick in the 2012 NFL Draft, as the Rams dealt the rights to Robert Griffin III to Washington.
Griffin is currently the league's third-rated passer (100.5). The Browns instead dealt the fourth overall pick and a pick in the fourth round to Minnesota. The Browns selected Trent Richardson. The trade essentially took place due to a threat from Tampa Bay, who later was reported to not have been interested in a trade with the Vikings.
The Browns had two first-round picks, selecting 29-year-old quarterback Brandon Weeden with the 22nd overall pick. Weeden is 32nd in the NFL in passer rating right now, at 68.1.
Cleveland is 1-5, coming off its first victory of the season, defeating Cincinnati 34-24 in Week 6.