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Pat Quinn speaks to reporters during a media availability in Ottawa on Thursday Jan. 1, 2009.Sean Kilpatrick/The Canadian Press

Hockey Hall of Fame chairman and chief executive officer Bill Hay has announced that he will retire later this year.

Selection committee co-chairman Pat Quinn will take over as chairman while president Jeff Denomme will add CEO duties to his job title, the Hockey Hall of Fame said Thursday in a release. Hay will retire July 31 and the succession appointments will become effective Aug. 1.

Hay was appointed as chairman and CEO in July 1998. He previously spent 17 years on the selection committee and has served 18 years on the board of directors, including the past 15 years as chairman.

Under his leadership, the Hall has strengthened relations with constituents like the IIHF, NHL, NHLPA and Hockey Canada, and has invested over $30 million in capital assets including two major expansion projects.

"I have countless fond memories of my association with the Hockey Hall of Fame over the past 33 years," said Hay. "It's been an incredible honour and privilege to serve this iconic institution and to interact with the people that make it so special.

"With today's appointments, I am confident that the Hall will carry on the outstanding work of preserving and promoting the history of our great game."

Quinn has been a member of the Hall's selection committee since 1998. He spent nine years as a player in the NHL and later served in executive, managerial and coaching positions with several teams.

"The Hockey Hall of Fame celebrates excellence in the game of hockey and in view of this mandate I am especially proud to become chairman of the board", said Quinn. "Bill Hay's distinguished service is unparalleled and the manner in which his leadership has advanced the Hall's interests, along with the respect I have for the selection committee and selection process, are all key motivating factors to contribute at the board level."

Denomme began his career with the Hall in 1986 and has served as president since 1998.

"The opportunity to be a part of shaping a premier attraction dedicated to our game is a truly unique and engaging experience," Denomme said. "I am grateful to Bill for his contributions and support and to our board for their endorsement as we strive to innovate and build on past accomplishments which have made the Hockey Hall of Fame a leader in the sports hall of fame and museum field."

Also Thursday, the Hall announced that Montreal Canadiens owner Geoff Molson has been elected as a new member of the board of directors. In addition, Eric Duhatschek, Mike Emrick, Michael Farber, Lanny McDonald, Peter Stastny and Bill Torrey were re-appointed to the selection committee for a further three-year term to expire in March 2016.

The selection committee will meet in early July to consider nominated candidates for election into the Hall. The announcement of the new inductees will be made July 9 and the 2013 induction celebration is set for Nov. 11.

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