Per about everyone on twitter, former Penguins executive VP and GM Ray Shero will be the next general manager of the New Jersey Devils.
Shero will report to Lamoriello, who will continue in his role as the team’s president.— New Jersey Devils (@NHLDevils) May 4, 2015
Lamoriello has said this is "100%" his decision, and he has been in charge of New Jersey since 1987, one of the longest stints in league history.
There's been no word if NJD will send Pittsburgh a 3rd round pick - which the Penguins could have insisted upon. However, per Mike Colligan, Shero + fired coach Dan Bylsma made a combined $5 million plus last year on Pittsburgh's dime to be unemployed, and that's an expense for the Pens that goes away with a new job. For them, simply removing the excess from the payroll is a solid reward. There's also the fact that not standing in the way of a former employee from getting a new job is a pretty admirable decision to make- even if Shero is joining a division rival.
UPDATE: Pens get no draft pick
Lamoriello says no compensation to PIT— Elliotte Friedman (@FriedgeHNIC) May 4, 2015
Speaking of, the Devils haven't made the playoffs in 3 straight seasons, and don't figure to have a very strong team for next season. With the Pens, Rangers, Capitals all with very solid teams - and up and comers like the Brooklyn Islanders and Columbus Blue Jackets having a ton of young talent as well, it's going to be very difficult for the Devils to compete for a playoff spot for the foreseeable future.
But, that's Shero's issue now and it will be interesting to see what he has learned about some of his mis-steps that ended his Penguins career.