On Monday, Chip Alexander of the Raleigh News & Observer reported on Rutherford's expected decision that will take place at the end of the season, which TFP has since confirmed, according to a source close to the organization.
Rutherford is the Carolina/Hartford Whalers' seventh GM and the only GM in the history of the Hurricanes.
Under Rutherford, the Hurricanes have earned a 534-486-156-20 regular-season record since arriving from Hartford prior to the 1997-98 season, including a pair of trips to the Stanley Cup Final and the first Stanley Cup Championship in franchise history in 2006.
Hurricanes V.P. of Hockey Operations Ron Francis is set to take over as the club's new GM once Rutherford steps aside.
Rutherford could remain on board as the Hurricanes' President, a position he also currently holds.