The Flames were on a road trip when the controversy broke.
"Effective immediately, Bill Peters is no longer a member of the Calgary Flames organization", he said.
The NHL is also investigating. Francis also said he will not comment further on the matter.
Calgary hosts the Ottawa Senators on Saturday night.
Then on Tuesday, former National Hockey League defenceman Michal Jordan alleged Peters struck him and another player while the two were with the Hurricanes, an allegation backed up by current Carolina coach Rod Brind'Amour.
After it was established without a doubt that these in-game incidents happened, former Hurricanes owner Peter Karmanos - who was at the helm when the abuses allegedly took place - publicly scolded his ex-general manager, Ron Francis, for apparently not informing him of Peters' misconducts after a group of players and coaches approached Francis about the alleged in-game assaults. Francis says he took immediate action and briefed ownership.
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This all began with the 30-year-old posting a series of tweets, roughly detailing his experience with Peters during their time together during the 2009-10 season for the AHL's Rockford IceHogs.
However, three days ago, former Carolina principal owner Peter Karmanos denied knowledge of the event and said he would've fired Peters "in a nanosecond" if he'd been told about the abuse. Jordan wrote on Twitter on Tuesday that Peters kicked him and punched the other player on the bench.
Francis extended Peters' contract in July 2016 through the 2018-19 season.
Brind'Amour said this week that he believed the situation was handled correctly at the time by management.
Francis said he would make no further comments, saying it would be inappropriate "while an active investigation was being conducted by another team". Jordan, who now plays in the KHL, last played for the Hurricanes in the 2015-16 season.
Karmanos is still a minority owner of the Hurricanes, but he was the majority owner from 1994 to 2018 before selling controlling interest of the club to Tom Dundon. Alexander, who has won numerous writing awards at the state and national level, covered the Hurricanes' move to North Carolina in 1997 and was a part of The N&O's coverage of the Canes' 2006 Stanley Cup run.