Fiddelke said he is “stepping in with urgency to rebuild momentum and return to profitable growth.”

After 11 years in the role, Cornell will leave his post at the beginning of next year, per CNN, CNBC and AP.

Wall Street appears less than enthusiastic about the choice, as the share price slumped following the news.

The Broncos have signed defensive tackle Michael Dwumfour, Mike Klis of 9News reports. In a corresponding move, the Broncos waived undrafted rookie inside linebacker J.B. Brown. Dwumfour, 27, was on of the defensive tackles who worked out for Denver on Tuesday.

On Wednesday afternoon, Nick Underhill of NewOrleans.Football was the first to report that the Saints have agreed to a trade to acquire wide receiver Devaughn Vele from the Denver Broncos.