PORTLAND, Ore. — The Portland Trail Blazers have hired former Los Angeles Clippers GM Neil Olshey as the team's new general manager.

The announcement by the Blazers on Monday came less than an hour after the Clippers announced that they and Olshey had decided to part ways.

Last season, Olshey oversaw a major retooling of the Clippers' roster that included signing All-Star Chris Paul in December in the biggest trade in franchise history. In the same six-day span, Olshey signed All-Stars Caron Butler and Chauncey Billups, and re-signed DeAndre Jordan.

The Clippers finished with a 40-26 record and reached the second round of the playoffs.

The Blazers have been operating under interim GM Chad Buchanan for the past year. Buchanan took over when the Blazers fired Rich Cho after about 10 months on the job.

Olshey becomes the 10th general manager in Blazers history.

"Neil is someone we've had on our radar for quite a while. Over the past two seasons he has demonstrated success in constructing a roster, managing salary cap and evaluating player talent," Blazers President Larry Miller said in a statement. "We feel very fortunate to have him in Portland and are thrilled about what this means for the future."

The Blazers say they are planning a news conference for Tuesday.

Last week, the Clippers announced that they had reached an agreement in principle to bring Olshey back. Clippers President Andy Roeser said circumstances had changed since the announcement Friday.

"In light of that, we want to wish Neil well and acknowledge his contributions during the time he spent with the Clippers," Roeser said.

Olshey had been with the Clippers for nine years, including stints as director of player development, assistant coach, director of player personnel, and assistant GM.

"He has the skills and the vision to successfully guide our organization into a new era of Trail Blazers basketball," Blazers owner Paul Allen said in a statement released by the team. "He's proven that he can quickly turn around a franchise, and we are confident he can do that in Portland."

Now that the Blazers have a general manager, they can turn their attention to hiring a new head coach. The team dismissed coach Nate McMillan at the trade deadline after more than six seasons with the team. Assistant Kaleb Canales served as coach for the rest of the season.

The Blazers finished the lockout-shortened season 28-38 and out of the playoffs for the first time in four years.