SACRAMENTO, Calif. -- Sacramento Kings president Chris Granger is leaving the team to take on a new challenge.

Granger announced his decision Monday to leave the team after almost four years in the role. Granger was in charge of the business side for the team and played a major role in the construction of the new downtown arena that opened this past season.

"I just feel it's time," Granger told the Sacramento Bee on Monday. "I'm not leaving for another job. There is nothing imminent. But I want to do something else, to be challenged in a position working with multiple sports, maybe the Olympics, something with a bigger platform."

Owner Vivek Ranadive called Granger "one of the best in the business" and thanked him for his contributions to the franchise.

John Rinehart has been promoted from chief financial officer to president of business operations.

The Associated Press contributed to this report.