Porter’s CEO, John Porter, announced his resignation Friday.
The announcement came after Porter’s shares fell by more than 20% over the past two months.
Porter said he will step down from the board and is expected to announce his successor on Monday.
The CEO’s departure comes less than two months after Porter made headlines when he fired the CEO of a competitor.
Porter has been a controversial figure in recent years, especially for his support of his own company.
Porter also owns the New York Jets and the Philadelphia Eagles.
Porter’s resignation comes on the heels of an announcement that he will become CEO of the Chicago Bears.