Shane McMahon resigns as CEO of 'YOU on Demand'
Former WWE superstar Shane McMahon, who was also the WWE’s Executive Vice President of Global Media has voluntarily stepped down as the CEO of China’s “YOU on Demand” company.
The news was confirmed by an official press release by the company, that also confirmed Mr. Weicheng Liu’s appointment in Shane’s position. Shane is however expected to on board as a “principal executive officer” and the Chairman of the Board.
Commenting on the announcement, Mr. McMahon said, “Weicheng has been instrumental in YOU On Demand’s initial success and has done a wonderful job as the Company’s China-based CEO. As our operations and footprint continue to expand throughout China, it is essential that the role of the CEO be located within the PRC for both strategic and operational reasons.
“Weicheng is both a remarkable person and leader and I look forward to continuing to build the YOU On Demand brand with him. With Weicheng’s new role, along with C Media’s strategic investment in the company and their expertise in the market, I am very excited about the future for YOU On Demand.”