Shane McMahon Steps Down as CEO of YOU On Demand - Wrestle Newz twitter google

Shane McMahon Steps Down as CEO of YOU On Demand

– A press release was sent out today announcing that former WWE Executive Vice President of Global Media Shane McMahon has voluntarily stepped down as the CEO of China’s “YOU On Demand” company. Shane will stay on board as a “principal executive officer” and the Chairman of the Board. Here’s the press release:

YOU On Demand Announces Appointment of Weicheng Liu as CEO; Shane McMahon Remains Chairman

NEW YORK, July 12, 2013 /PRNewswire/ — YOU On Demand Holdings, Inc. (NASDAQ: YOD) (“YOU On Demand” or the “Company”), the first national Video On Demand (VOD) platform in China, is pleased to announce that Mr. Weicheng Liu, in conjunction with the recently announced closing of the strategic investment from Chinese mobile video service provider C Media (“C Media”), was appointed as the Company’s Chief Executive Officer. Mr. Shane McMahon, who voluntarily stepped down as CEO of the Company, will continue to serve as YOD’s principal executive officer of and 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.”

Mr. Liu stated, “I am very excited and appreciative to have been named as CEO of YOU On Demand. Along with many others in the Company, Shane and I have worked very hard over the past three years in creating YOU On Demand and I am very optimistic about our future success. We have tremendous potential to continue our creation of a unique, multi-tiered distribution platform that will deliver a wide array of entertainment content. The Chinese media market is changing quickly and we are focused on continuing to adapt in order to best serve its consumers.”

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  • OsamaBenAfflak

    I hope this means hes coming back to WWE even if he stays on the board over there. He would be awesome to come back and lead the fight against HHH and company.

    • SdotC

      In a perfect world.

    • jcice13

      he’s still the chairman, so wouldn’t that mean he has a full time job? I don’t know how the company would feel knowing their chairman has nothing else to do but become a carny

      • OsamaBenAfflak

        Im sure its all an elaborate work. He’ll be back

        • jcice13

          you’re SURE?? you’re not speculating? you’re not hoping? but you’re sure? well I guess someone like yourself who’s a president AND the new batman knows how to balance 2 difficult positions at once. again you’re SURE not just maybe?

          • OsamaBenAfflak

            Absolutely sure. Its just like the Illuminati… except different.

          • OsamaBenAfflak

            Also please don’t tell too many people about me being batman. It could cause some problems for my loved ones.

  • Lee Roy Ponke

    Shane step down as CEO but will continue to serve as YOD’s principal executive officer of and Chairman of the Board. I cant see him returning to the WWE since hes still an executive of the company since his position with the company he works for now would still keep him very busy

    • xXwindsofchangeXx

      Maybe not full-time (and that’s fine; none of the McMahons should be on-screen full-time anymore) but I wouldn’t complain about a couple of one-offs. The pop would be massive. (At least from anyone over 21. Everyone else would be going “Vince McMahon has a son?”)

      • Lee Roy Ponke

        I dont think he could do full time because of his job but I agree a few appearances would be great.

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