Chicago, IL (My Sportsbook) - The Chicago Bulls hired John Paxson Monday as the team's new Executive Vice President of Basketball Operations. He will be introduced at an afternoon press conference.

Paxson, who has been with the organization in some capacity since 1985, fills the void left by Jerry Krause, who resigned on April 7. The 64-year-old Krause, who played a major role in building the Bulls' world championship teams of the 1990's and was a two-time NBA Executive of the Year, cited health problems as a reason for his decision.

The 42-year-old Paxson spent 11 years in the NBA as a player. After retiring in 1994, Paxson worked as a Bulls assistant during the 1995-96 season and has been part of Chicago's broadcast team for seven years, both on radio and television.

Paxson was originally drafted by the San Antonio Spurs out of Notre Dame in the first round (19th overall) of the 1983 NBA Draft. He played two years with the Spurs before signing with the Bulls as a free agent on October 30, 1985. Paxson spent his final nine years as a player with the Bulls.

The former Notre Dame product played in 772 games over his career, and averaged 7.2 points and 3.6 assists.

Paxson won three titles as a player with the Bulls, and will always be remembered for his game-winning shot in Game 6 of the 1993 NBA Championship against Phoenix. The clutch-shooting guard drained a three with 3.9 seconds left to seal Chicago's third-straight NBA title.

Chicago is 29-52 this season and will miss the playoffs for the fifth straight year.