The Los Angeles Lakers announced they have named Elaine Shen as their Chief Financial Officer.
According to the press release, Shen will oversee all financial aspects of the Lakers, shaping strategic growth, driving profitability and creating continued value for the global franchise. In a related move, Joe McCormack will shift to an executive advisory role as Senior Vice President of Finance for the Lakers.
Shen joined the Los Angeles Lakers in 2016 and has held a variety of strategic roles across the organization in both business and basketball operations. Most recently, Shen served as the Lakers Associate Chief Financial Officer.
“Elaine Shen is an exceptional leader and catalyst for success,” said Los Angeles Lakers President of Business Operations Lon Rosen in a statement. “She brings an artful and considerate approach to every table, combined with the ability to build consensus and make tough decisions. Elaine is a trusted advisor and the perfect modern CFO to help lead the next stage of transformation for the Los Angeles Lakers.”
Before being hired by the Lakers, Shen worked at Aon and Wachovia Bank. She is a graduate of the University of Pennsylvania and earned her Master of Business Administration at UCLA Anderson School of Management.
Under new majority owner Mark Walter, the Lakers have completely overhauled the organization on the business side with Rosen leading the way. They recently hired Yao Williams II to be their vice president and head of global partnerships.
Changes are also expected to come on the basketball operations side as they notably are adding two assistant general managers this offseason. They already hired one in Rohan Ramadas to help on the data and analytics side and still are on the search for the second one to help with player evaluation and development.
Lakers announce multiyear partnership with Daiso
The Lakers also recently announced a multiyear partnership with the Japanese retail company Daiso, whose logo will be included on the Laker Girls uniform during select regular season games for the first time in franchise history.
“We are thrilled to welcome Daiso to the Los Angeles Lakers family with an innovative partnership that connects the retailer to the Laker Girls,” said Rosen in a statement. “Recognized as the premier sports entertainment team, the Laker Girls have both a global and local appeal that connects Daiso to one of the most influential and memorable elements of the Lakers gameday experience.”
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