McMahon steps down from exec VP post

World Wrestling Entertainment is down one more McMahon.

Shane McMahon is stepping down as executive VP of global media at the company on Jan. 1 to “pursue outside ventures.”

The news comes after Linda McMahon, his mother, stepped down as WWE CEO last month to run as a Republican for Connecticut’s Senate seat.

“It has been an incredible experience to help build WWE into a global phenomenon,” Shane McMahon said. “However, having been associated with this organization for the majority of my life, I feel this is the opportune time in my career to pursue outside ventures.”

Shane McMahon oversaw growing areas for the company, including international television distribution, digital media, consumer products and publishing. In addition to getting WWE’s main shows “Raw” and “Smackdown” on the air in more than 20 countries, he had recently brokered deals to move WWE’s shows from cable to major broadcasters in Mexico. He formed the company’s digital division in 1998.

Donna Goldsmith, WWE’s chief operating officer, will oversee those areas of the company until a decision is made on how to move forward with the position.

The fourth-generation of the McMahon family to be involved in a business that his great-grandfather founded, Shane McMahon started at WWE in 1990 as on-air character — referee Shane Stevens. After playing other backstage roles, he became a regular wrestler in the ring in 1998.

“Even though I am personally saddened by Shane’s decision to leave the company, I am proud of the enormous contributions he has made,” said Vince McMahon, WWE’s chairman and CEO, who is Shane McMahon’s father. “He will unquestionably bring passion, commitment and extensive business experience to any endeavor he pursues.”

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0