The Associated Press is reporting that the Charlotte Bobcats have named Ed Tapscott the CEO of both the Bobcats and the Charlotte Sting, while Peter Smul is to take charge of daily operations for the two teams, the franchise said Thursday.

Tapscott, who becomes CEO of Bobcats Sports & Entertainment, will retain his president's title, owner Robert L. Johnson said in a statement.

In his new role, the team said, Tapscott will help direct development of the Bobcats and Sting and their downtown arena, which is operated by the franchise.

"Ed has done a fantastic job getting the Bobcats franchise up and running and integrating our organization into the Charlotte community," Johnson said. "He has earned the respect of the local community, as well as our peers in the NBA, and has created a foundation for success on the court."

Smul, who has been the team's chief financial officer and executive vice president of business operations, will now oversee all sales, service, administrative, finance, legal and marketing functions for the two franchises.