The Sharks led the Los Angeles Kings 3-0 in the Western Conference First Round but became the fourth NHL team to lose a best-of-7 Stanley Cup Playoff series after holding such a lead.
"I am very disappointed in the way our team finished the 2013-14 season," Hasso Plattner said in a statement released by the team. "Gaining a 3-0 series advantage and being unable to advance is a major blow to our organization and fan base. Our teams have been consistently built to go deep into the playoffs and this goal won't change.
"Doug Wilson and I have met over the past two weeks. He has shared his support of the coaching staff, as well as his recommended changes to our team's roster, and he has my complete support moving forward."
Wilson was named executive vice president and general manager on May 13, 2003. He hired McLellan as coach on June 12, 2008.
The Sharks have gone 271-130-57 in six seasons under McLellan. San Jose lost in the 2010 and 2011 Western Conference Finals but has been eliminated from the playoffs in the first round in two of the past three years.
"I want to thank our extremely loyal fans and partners for their continued support and to let them know that we are not satisfied with the status quo of the last several seasons," Plattner said in his statement.
"I am confident that with the proposed changes, Doug and his staff will build a team we can all be proud of."