Vlade Divac has stepped down as general manager of the Sacramento Kings, the team announced Friday.

Joe Dumars, 57, will take on the role of interim executive vice president of basketball operations and will assume general manager duties.

Divac, 52, failed to guide the Kings to the postseason at any time during his five-year tenure with the team. Sacramento finished with a 31-41 record and missed the playoffs for the 14th consecutive year.

"This was a difficult decision, but we believe it is the best path ahead as we work to build a winning team that our loyal fans deserve," Kings owner and chairman Vivek Ranadive said in a team-released statement.

"We are thankful for Vlade's leadership, commitment and hard work both on and off the court. He will always be a part of our Kings family."

ESPN's Ramona Shelburne reported the Kings informed Luke Walton that he will remain as head coach despite the departure of Divac.

Divac, who played for the Kings from 1998-2004, has seen three different head coaches combine for a 162-238 record during his time as general manager.

"It has been an honor and a privilege to serve as the General Manager for the Kings," Divac said in a statement. "I want to thank Vivek for the opportunity and recognize all of the incredible colleagues who I had the great pleasure of working with during my tenure. Sacramento and the Kings will always hold a special place in my heart and I wish them all the best moving forward."

Like Divac, Dumars is enshrined in the Naismith Memorial Basketball Hall of Fame. He was hired as a special adviser to Divac last summer.

"Joe has become a trusted and valued adviser since joining the team last year, and I am grateful to have him take on this role at an important time for the franchise," Ranadive said.