A press release has revealed that Shane McMahon has been appointed the Executive Chairman of Ideanomics, a company he founded outside of WWE.
Originally called China Broadband Inc, Ideanomics is a financial technology company, founded by McMahon in 2004. In 2013, he stepped down as CEO, and acted as the Executive Vice Chairman until recently.
The press release reads:
Shane McMahon Appointed Executive Chairman of Ideanomics
– McMahon has been involved with the company since 2010, and previously served as Vice Chairman
– Jim Cassano, a 13-year Board member, will be elevated to Vice Chairman
– Move signals strong support from executive leadership team as Company continues build-out of highly synergistic brand portfolio in support of broader EV and hydrogen fuel cell industry
NEW YORK, Aug. 2, 2021 /PRNewswire/ — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), today announced Shane McMahon has been appointed Executive Chairman of the Board. Jim Cassano will become the new Vice Chairman.
McMahon has been involved with the company since 2010, and previously served as Vice Chairman. Prior to Ideanomics, McMahon served as Executive Vice President of Global Media for World Wrestling Entertainment, Inc., where he oversaw the company’s consumer products, digital media and publishing divisions worldwide as well as all international revenue streams for WWE.
“We recently launched the transformation of Ideanomics as we vertically enter the exciting EV and hydrogen fuel cell space. We now have a powerful management team in place to ensure Ideanomics’ success,” said McMahon. “I’m proud of what the new team has achieved in such a short amount of time and more importantly, I am thrilled for what’s yet to quickly come. I look forward to helping the company’s growth, vision, and momentum stay on track as we enter this new phase for Ideanomics.”
“Shane has been an inspirational and passionate leader for Ideanomics, and we are honored to have him as our Executive Chairman,” said Ideanomics CEO Alf Poor. “His entrepreneurial approach and marketing acumen have been vital to our recent and anticipated growth. We are excited to be able to leverage his broad business and organizational understanding as we scale the company in the US and globally.”
Jim Cassano, a current member of the Board, will bring his extensive leadership experience to the role of Vice Chairman. He has been a key player in helping shape Ideanomics’ long-term strategy and has been working hand-in-hand with the executive team to grow the ecosystem of EV and mobility businesses. Cassano is a three-time CEO and has served for more than a decade on the Board of Ideanomics. Additionally he has led a number of private entrepreneurial ventures. For the expanding Ideanomics organization, Cassano brings substantial private equity, venture capital, M&A experience in structuring joint ventures and profitable strategic alliances. Cassano has global experience across numerous financial and business services sectors, including internet software, data services, entertainment, publishing, pharmaceuticals, biotech services, and engineering.
McMahon and Cassano’s appointments signals Ideanomics’ strong commitment to scale existing synergistic businesses, and the build-out of its vision as a vertically integrated company in the EV and hydrogen fuel cell space.
For more information and news on other Ideanomics subsidiaries, please visit https://ideanomics.com.
McMahon featured regularly on WWE TV earlier this year, wrestling Braun Strowman at WrestleMania 37 in April.