NEWARK - (AP) - Lou Lamoriello is stepping down as the New Jersey Devils' general manager and handing the job to Ray Shero.

Lamoriello announced Monday that he will remain as president of hockey operations. The 72-year-old Lamoriello has led the Devils since 1987 and guided them to three Stanley Cups.

He says he has considered stepping down for a while, indicating that he was not forced out after missing the playoffs the past three seasons.

The 52-year-old Shero was let go as the Pittsburgh Penguins' general manager last May. He is the son of former Flyers and New York Rangers coach Fred Shero.

The Devils are still looking for a coach, and Lamoriello says Shero will make that hire.

Lamoriello fired coach Pete DeBoer in December, and he then ran the team with the help of Adam Oates and Scott Stevens.