Looks that way. The title would be "CEO" but he would likely run all baseball operations. Jocketty, though, is a GM and always will be a GM, so I can't help but think of this as a major slap at Wayne Krivsky. I'm probably in the distinct minority of folks who think that Krivsky has done an OK job so far, so I think it's an unnecessary move.
Next up, I presume: La Russa and Dave Duncan follow (even though the article says La Russa isn't going anywhere). I suppose that will be a positive for season ticket sales, but I don't see how they're the best fit for the Reds.
Update: I take that back. Jesus tap-dancin' Christ, they went with Dusty. Personally, I think this is an awful move. Homer Bailey should make his reservations with Dr. Andrews' people now to save everyone the trouble later.