Fenton, 58, spent the past 20 seasons with the Nashville Predators, including the previous 12 as assistant GM, helping them qualify for the Stanley Cup Playoffs in 11 of the past 14 seasons and reach the Cup Final in 2017. He was part of the management group that drafted defensemen Roman Josi, Ryan Suter and Shea Weber, and goalie Pekka Rinne.
"My relationship with Paul goes back to my early days in Nashville, and I know that Wild hockey fans are going to love Paul's infectious passion for the game and unsurpassed work ethic," said Leipold, who previously owned the Predators. "He's the right person to deliver a Stanley Cup to the State of Hockey."
The Wild finished third in the Central Division (45-26-11, 101 points) this season before a five-game loss to the Winnipeg Jets in the Western Conference First Round.