The Los Angeles Lakers have promoted Elaine Shen to Chief Financial Officer, the organization announced. Shen will direct all financial operations, guide strategic growth initiatives and focus on profitability for the global franchise.
Shen joined the Lakers in 2016 and has held several strategic posts in both business and basketball departments, most recently serving as Associate Chief Financial Officer. She previously worked at Aon and Wachovia Bank, holds a degree from the University of Pennsylvania and earned an MBA from UCLA Anderson School of Management.
“Elaine Shen is an exceptional leader and catalyst for success,” Lakers President of Business Operations Lon Rosen said in the statement. “Elaine is a trusted advisor and the perfect modern CFO to help lead the next stage of transformation for the Los Angeles Lakers.”
With Shen’s promotion, longtime executive Joe McCormack transitions to the role of Senior Vice President of Finance in an advisory capacity.
Recent Front-Office and Business Moves
Since majority owner Mark Walter took control, the Lakers have restructured their business side under Rosen, adding Yao Williams II as vice president and head of global partnerships. On the basketball side, the club hired Rohan Ramadas as one of two new assistant general managers, with a search ongoing for another executive focused on player evaluation and development.
New Partnership with Daiso
The team also revealed a multiyear agreement with Japanese retailer Daiso. The company’s logo will appear on the Laker Girls’ uniforms during select regular-season games, a first for the franchise. “We are thrilled to welcome Daiso to the Los Angeles Lakers family with an innovative partnership that connects the retailer to the Laker Girls,” Rosen said.
Source: LakersNation.com
