Hextall is Philadelphia's all-time winningest goalie and served as assistant GM last year. Holmgren replaced Bob Clarke as GM during the 2006-07 season and led the Flyers to within two games of the Stanley Cup title in 2010.
The Flyers were eliminated by the New York Rangers in seven games in the first round of the playoffs. They haven't won a Cup since 1975.
Hextall previously spent seven seasons as vice-president and assistant GM with the Los Angeles Kings. The 50-year-old Hextall played 13 seasons in the NHL and had two stints covering 11 years with the Flyers.
Obviously a lot happened in a short period of time. At the end of the day, considering everything I went through, I really felt close to my teammates and I really feel like what we accomplished, I know we didn't win it all. ... I'm really proud of how we got there and what we did once we got there.
— Rangers forward Martin St. Louis to Jim Cerny of BlueshirtsUnited.com