Add The California Post on Google The Lakers continued their business operations changes by replacing their longtime chief financial officer.
Elaine Shen was named the franchise’s newest CFO on Tuesday, replacing former CFO Joe McCormack.
New Los Angeles Lakers owner Mark Walter continues his overall of the business operations staff, hiring Elaine Shen as new chief financial officer. Getty Images Shen will oversee all financial aspects for the Lakers, “shaping strategic growth, driving profitability and creating continued value for the global franchise”, the team said in its announcement.
McCormack has shifted to an executive advisory role for the Lakers as the senior vice president of finance.
He’s been with the franchise since December 1988.
Shen joined the Lakers in 2016 and has held a variety of roles for the Lakers in both business and basketball operations.
Shen was most recently the Lakers associate chief financial officer and vice president of Strategy & Planning.
“Elaine Shen is an exceptional leader and catalyst for success,” Lakers president of business operations Lon Rosen said 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.”
The Lakers have made several other changes to their basketball and business operations departments since Mark Walter, the Dodgers controlling owner, officially became the majority owner of the Lakers in October:
