Donnie Walsh has resigned his post as president of the New York Knicks, effective at the end of June. That means he'll still be in charge (in theory) of the Knicks' NBA Draft decisions; the 'Bockers have the No. 17 pick in the first round. Once Walsh steps down to become a consultant, current senior VP for basketball operations Glen Grunwald will serve as the interim president and general manager until a replacement is found.
Grunwald saw success as the general manager of the Toronto Raptors from 1998 to 2004, and is responsible for drafting the franchise's best homegrown player -- Chris Bosh, who has since moved on to the Miami Heat -- and trading for its best acquisition, Vince Carter. Grunwald also drafted Tracy McGrady, who went on to prominence with the Orlando Magic and Houston Rockets once Toronto couldn't retain him.
Grunwald is close to Isiah Thomas, the general manager who preceded Walsh and who is considered both a walking disaster as an NBA decision-maker and a favorite "son" of Knicks franchise owner James Dolan. It's unclear whether Grunwald himself will be a candidate for the leadership of the team's basketball operations, or whether Thomas will move back into the picture. The Knicks also retain Mark Warkentien, the former GM of the Denver Nuggets.