From the Mormon Newsroom.

The Church of Jesus Christ of Latter-day Saints on May 11, 2017, announced significant changes to the activity program for young men ages 14–18. Listed below are several questions and responses media and others may have regarding this change. The change affects young men in the United States and Canada. Though the answers below are specific to the Boy Scouts of America, the same principles apply to our association with Scouts Canada. (See the First Presidency Letter announcing these changes.)

What exactly is changing?

Beginning January 1, 2018, young men from The Church of Jesus Christ of Latter-day Saints will no longer participate in the Varsity and Venturing programs offered by the Boy Scouts of America.

Instead, Young Men activities will focus on spiritual, social, physical and intellectual goals outlined by the Church. These activities are designed to be fun and meaningful and provide opportunities for personal growth and development.

Why is this change occurring?

In most congregations in the United States and Canada, young men ages 14–18 are not being served well by the Varsity or Venturing programs, which have historically been difficult to implement within the Church. This change will allow youth and leaders to implement a simplified program that meets local needs while providing activities that balance spiritual, social, physical and intellectual development goals for young men.
Does this mean the Church is completely separating from the BSA?

The Church continues to look for ways to meet the spiritual, physical, emotional and intellectual needs of young men around the world. The current decision is consistent with those efforts. The Church will continue to use the Cub Scout and Boy Scout programs for boys and young men ages 8 through 13.

Previous statements have indicated that the Church wants a program that serves all young men around the world. Is this it?

No, this is not the global program, but an important step that addresses an immediate need. Varsity and Venturing programs have been difficult to run effectively on a local level. The Church continues to work toward developing a program for young men and young women globally.

Why is the Church remaining with the Cub Scout and Boy Scout program?

These programs currently meet the development program needs of boys from ages 8 through 13.

Read the rest of the statement at the Mormon Newsroom