Lou Lamoriello, who had served as Devils GM since April 1987, made the announcement. Lamoriello will remain New Jersey's president of hockey operations.
"I think we have to be realistic in life in different areas and be honest, and right now this is the perfect time and the perfect person with great experience [in Shero]," Lamoriello said on a conference call. "Ray has been in a couple of different organizations and had a year off, had a chance to step back and figure what went wrong and what went right and how things could be different."
Shero was GM of the Pittsburgh Penguins from 2006-14. The Penguins went to the Stanley Cup Final in consecutive seasons in 2007-08 and 2008-09, winning the Stanley Cup in 2009.