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Carl Peterson Resigns

No, seriously.

Chiefs president/general manager Carl Peterson resigned today effective at the end of the season.
"On behalf of my family and the entire Kansas City Chiefs organization, I want to thank Carl for his two decades of service to the Chiefs," Chiefs chairman Clark Hunt said. "Both Carl and I agreed that immediately initiating the search for the next Chiefs general manager would be the best thing for the future of the organization, and he will be resigning following the 2008 season."
Hunt said the search for a new General Manager will begin immediately. Vice President Denny Thum will serve as the Chiefs interim president and general manager.

“I am proud of my association with the Kansas City Chiefs and our many accomplishments over the last 20 years,” Peterson said. “I thank the Hunt family for the opportunity to lead the Chiefs organization and sincerely appreciate all the coaches, players, administrators and Chiefs employees with whom I’ve had the pleasure of working in my time here. Most importantly, I want to thank Chiefs fans around the country for their passionate support through the years. Chiefs fans are the finest in all of professional football.”

Per the statement by the team, he is resigning from all three positions he holds - General Manager, President and CEO.

Carl Peterson will leave the Kansas City Chiefs GM position with one year left on his contract. Don't get too excited about his absence though. Peterson will be picking his successor.

Read more from the Mothership.

Video of Clark Hunt's press conference.

Much, much more to come on this. Wow. Just wow.

Update: Via an appearance on the NFL Network, Clark Hunt said ultimately he will determine the fate of coach Herm Edwards.  He also said he expects the team's new GM to come from outside the organization without any ties to the Chiefs.