via TSN,

Bob Nicholson, the longtime president and CEO of Hockey Canada is stepping down effective June 1.

Nicholson informed his staff and the Hockey Canada board of his decision today after several days of contemplating his future.

With long-term sponsorship and television agreements in place and Hockey Canada believed to be both structurally and financially strong, the timing of Nicholson's decision, following Olympic Gold in mens and womens hockey in Sochi, makes sense.

Nicholson is expected to maintain his position as vice president of the IIHF and his departure from Hockey Canada will also likely spark speculation of potential NHL interest.

It's believed Hockey Canada will conduct a search as part of the process to replace Nicholson, however, Hockey Canada C.O.O, Scott Smith is considered the frontrunner for the job.