The Kansas City Royals announced Monday that manager Ned Yost will retire at the end of this season. Yost, 64, led the Royals to back-to-back World Series appearances, including a championship in 2015. Yost will officially retire at the conclusion of the 2019 regular season. Sunday, Sept. 29 against the Twins will be Yost's final game.

"With the development of our young players and our returning veterans, I feel and hope the worst is behind us in this rebuilding phase of our organization," Yost said in a statement released by the Royals. "My plan all along was to get us through the rough times and then turn it over to a new manager to bring us the rest of the way. I've thoroughly enjoyed my time here as your manager and will never forget the good and hard times we had together as an organization and a fan base."

Yost will finish his career as the franchise's all-time leader in managerial wins, with 744 and counting. The Royals hired Yost in May 2010. Yost's previous managerial experience included a stint with the Brewers from 2003 to 2008. His career victories (1,201) as a manager currently rank 45th on the all-time list.

Since the Royals' 2015 World Series run, the club has been in a steady decline and is currently in the midst of a rebuild. Entering Monday, the Royals (57-100) are in fourth place in the AL Central and notched their second straight 100-loss season. Not only are the Royals a team in transition on the field, but off the field as well. Last month, news broke that Royals owner David Glass agreed to sell team to John Sherman, reportedly for more than $1 billion.

Mike Matheny is viewed as a strong candidate to replace Yost. Matheny previously managed the Cardinals from 2012-18 and is currently a special advisor for the Royals. MLB.com's Jeffrey Flanagan adds that the Royals have not committed to Matheny as the new manager, at least not yet. Here's more on what Matheny could bring to the organization, if hired as the club's new manager.

There will be at least three teams in search for a new manager at season's end. San Francisco Giants manager Bruce Bochy is also retiring at the end of this season, and on Saturday the Padres fired manager Andy Green. Expect more managerial changes in the coming weeks.