Scott spent 11 years with the ATP Tour before taking over the WTA in 2003. During his six years with the women, the WTA signed the largest sponsorship deal in the history of women's sport and professional tennis with Sony Ericsson at $88 million over six years.
"Under Larry's leadership, the tour and our sport have grown over the past six years beyond anyone's wildest expectations," said Steve Simon, tournament board representative and chairman of the tournament council.
"As an organization and sport, we are positioned for continued success," Simon continued. "We are looking forward to beginning the process of selecting a new (chief executive officer) for the organization to lead us into the future."
Celebrity Families of 2014 [PHOTOS]