Lakers Name Elaine Shen As New Chief Financial Officer, Move Previous Cfo To Advisory Role

The Los Angeles 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.

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 and 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:

• Rosen as the president of business operations (replacing Tim Harris); 
• Michael Spetner as the new chief strategy and growth officer (new position);
• Ryan Kantor as the vice president of global partnerships (new role);
• Former Virginia men’s basketball coach Tony Bennett as an NBA draft adviser;
• Rohan Ramadas as an assistant general manager of strategy and data system;
• Yao Williams II as the vice president and head of global partnerships.

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