Memphis Grizzlies owner Robert Pera has abruptly ousted team CEO Jason Levien and assistant general manager Stu Lash.

The team announced the stunning moves Monday afternoon, saying that "the decision was made for Jason Levien and Stu Lash to depart the organization" after discussions with management. first reported the departures earlier Monday, with sources close to the situation saying that a breakdown in the relationship between Pera and Levien -- who helped broker Pera's purchase of the franchise from the late Michael Heisley in June 2012 -- led to a major shakeup in Memphis for the second successive spring.

The Grizzlies fired popular coach Lionel Hollins after last season's trip to the Western Conference finals and replaced him with Dave Joerger, who won 50 games this season as a rookie coach. But sources say the futures of Joerger and executive vice president of basketball operations John Hollinger -- who was hired away from ESPN -- are immediately unclear, since both men were hand-picked choices by Levien.

Sources told on Monday that Pera expressed internal dismay with Joerger early in the season and contemplated firing him before the Grizzlies steadied themselves after the return from injury of Marc Gasol lifted Memphis back to the level of success it was accustomed to under Hollins.

The Grizzlies wound up finishing seventh in the West and lost a seven-game series to Oklahoma City in the first round after star forward Zach Randolph was suspended for the deciding game.

The Grizzlies, in confirming the departures of Levien and Lash, announced that longtime team executive Chris Wallace, who has moved into the background over the last 18 months, has been re-installed as head of basketball operations "for the time being." It's also believed that Grizzlies general counsel Dave Mincberg will take a more prominent role in the team's decision-making going forward.