A Power 5 league will soon be in the market for a new commissioner.

Tuesday, the Big 12 Conference announced that commissioner Bob Bowlsby will step away from his position “later this year.” He has served as the league’s commissioner since 2012, bringing his tenure to an end after a decade.

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Bowlsby released a statement on his decision on Tuesday.

“After more than 40 years of serving in leadership roles in intercollegiate athletics, including the last 10 with the Big 12, and given the major issues that college sports in general and the Big 12 specifically will address in the next several years, I have reached a natural transition point in my tenure as Commissioner, as well as in my career,” said Bowlsby.

“The Big 12 will soon bring in our four new members and negotiate a new grant of rights and media rights agreements. I truly believe the Big 12 and our member institutions are in a strong position now and as we look into the future. As such, this is an appropriate time for me to step away from the Commissioner’s role so that the next leader of the Conference can take the reins on these significant matters that will come to the forefront before the end of the term of my employment agreement in 2025 to set the stage for the Big 12’s future ongoing success.”

Per the release from the Big 12, Bowlsby will continue to serve as the conference’s commissioner until a new one is appointed. He will then transition into an interim role with the conference “subject to the mutual agreement of Bowlsby and the new Commissioner.”