Moorad resigns as Diamondbacks CEO

LOS ANGELES (Reuters) - Jeff Moorad, who is bidding to become a part owner of the San Diego Padres, has resigned as Arizona Diamondbacks' chief executive and was replaced by team president Derrick Hall, the club announced on Friday.

"Jeff was an integral part of the D-backs' many achievements on and off of the field since joining the organization in 2004," Arizona managing general partner Ken Kendrick said in a statement.

"However, it was necessary for him to tender his resignation with the organization as he pursues the acquisition of the San Diego Padres.

"Derrick has clearly demonstrated the ability to run a successful organization in his tenure as president of the D-backs and was an easy choice to promote to chief executive officer after accepting Jeff's resignation this morning."

Moorad took over as Arizona's chief executive from Jerry Colangelo in August 2004 while Hall, who joined the Diamondbacks in 2005, was promoted to team president in September 2006.

"An exclusive window of negotiations with the Padres opened today," said Moorad, who heads a small group of investors targeting ownership of San Diego.

"There's an agreement in principal that all parties are comfortable with. The transaction is one that should take place sometime in the next few months."

After making a strong start to the 2008 season, the Diamondbacks tailed off before finishing second in the National League West standings, two games behind the Los Angeles Dodgers.

On Friday, the Diamondbacks also announced the signing of veteran free agent first baseman Tony Clark to a one-year deal.

Clark, 36, was an influential performer for Arizona from 2005 to 2007, helping them win a National League-best 90 games and advance to the NL Championship Series in 2007.

(Writing by Mark Lamport-Stokes; Editing by Peter Rutherford)