Former New York Knicks and Toronto Raptors wing Landry Fields will immediately replace Travis Schlenk as the lead decision-maker for the Atlanta Hawks' basketball operations, the team announced on Wednesday.

The 34-year-old Fields rose quickly in the executive ranks and was promoted from assistant general manager to GM under Schlenk this past June. Schlenk, 46, who still has multiple years remaining on the contract extension he signed in 2019, will transition into a senior advisory role for team owner Tony Ressler.

“We have a great appreciation for the work Travis has done in guiding our franchise through a quick rebuilding process and shaping us into a playoff contender," Ressler stated in a press release. "He has worked tirelessly from his first day with our organization to move us toward our ultimate goal of becoming a championship franchise. With his strong eye for talent, work ethic and knowledge of our team, we are confident that he will serve us well as a trusted advisor."

A second-round pick out of Stanford in 2010, Fields played five seasons for the Knicks and Raptors before a series of injuries cut short his NBA playing career at the age of 26. He accepted a scouting job in the San Antonio Spurs' front office after sitting out the 2015-16 season. The Spurs tabbed Fields to be the general manager of their G League affiliate three years later, and the Hawks hired him as their assistant GM in 2020.

Schlenk ran the Hawks' front office for nearly six years after serving as assistant GM under Bob Myers on the Golden State Warriors. His most consequential move in Atlanta was trading the No. 3 overall pick in the 2018 NBA draft, which the Dallas Mavericks used to select Luka Doncic, for the rights to Trae Young at No. 5 and a top-five protected pick the following year (Cam Reddish). Young has twice been named an All-Star, but Doncic is a three-time All-NBA first-team selection and a perennial MVP candidate at the age of 23.

In his first three seasons with the Hawks, Schlenk also drafted John Collins, De'Andre Hunter and Kevin Huerter. Over a nine-month span in 2020, Schlenk executed trades for Clint Capela, Bogdan Bogdanovic and Danilo Gallinari, forming the core that led Atlanta to an Eastern Conference finals appearance in 2021.

“Throughout this season, Tony and I have had multiple, honest conversations about some of the personal things I’ve been going through and how I’ve been feeling, and I appreciate the counsel he has provided me as well as the opportunity he gave me six seasons ago to be a first-time general manager," Schlenk said in a statement. "As we enter a new year, the timing feels right for me to take a step back, reflect and prioritize my family.

"I am proud of the group I assembled both on the floor and in the front office. We have built a strong foundation for the Hawks franchise and achieved a high level of success. As an advisor, I look forward to working with Tony and Landry and continuing to make contributions in less visible but still impactful ways."

Since then, and even before then, the Hawks have navigated Young's fraught relationships with teammates and coaches. Schlenk fired Lloyd Pierce as head coach in March 2021, replacing him with Nate MacMillan, whose latest practice clash with Young led the star to skip a game earlier this month. The Hawks are 16-15, currently seventh place in the East, positioned for a second consecutive play-in tournament appearance.

Schlenk took another big swing to build around Young on the eve of free agency this past summer, trading Gallinari's expiring contract, three first-round draft picks (two unprotected) and a pick swap to the Spurs for All-Star guard Dejounte Murray. The backcourt pairing has not borne the fruit the front office anticipated.

Schlenk also made a cost-cutting decision for ownership to trade Huerter for a lottery-protected first-round pick in 2024. Huerter has been one of the league's elite high-volume 3-point shooters for the Sacramento Kings, shooting 41.1% on seven attempts per game this season — the kind of player the Hawks could use.

It will be fascinating to see how Fields navigates the next year with an underperforming roster featuring six players slotted to make more than $16 million next season. Collins has been party to trade discussions for years on end. Bogdanovic can decline an $18 million option to become a free agent in July. Murray is due for a pricey extension in 2024, when Onyeka Okongwu will also be in line for his rookie contract extension. Fields has plenty of decisions, and Schlenk has left him without two future first-round picks to make them.

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Ben Rohrbach is a staff writer for Yahoo Sports. Have a tip? Email him at rohrbach_ben@yahoo.com or follow him on Twitter! Follow @brohrbach