Zach Leonsis promoted to president of Capitals ownership group
“Meet the new boss, same as the old boss,” sang Roger Daltry on The Who‘s 1971 classic song ‘Won’t Get Fooled Again’.
For the Washington Capitals, the message is almost literal, as their new boss bears the same last name as their old boss.
On Tuesday, Monumental Sports & Entertainment, the company that owns the Capitals, announced that Zach Leonsis has been promoted to the company’s president and vice chairman.
Leonsis is the son of Ted Leonsis, who founded the company and still serves as chairman, managing partner, and chief executive officer. Ted Leonsis remains the contolling owner of the Capitals.
In a press release from Monumental Sports & Entertainment, it was stated that Zach Leonsis will “oversee financial operations, infrastructure and technology, venues and media businesses” in his new role.
Zach Leonsis had previously served as the company’s president of media and new enterprises.
Ted Leonsis spoke about the factors which led to Zach’s promotion.
“Monumental has grown significantly in both scale and complexity, and our leadership structure must continue to evolve with the business,” said Ted Leonsis. “Zach has played an integral role in building Monumental into the platform it is today, and this expanded role reflects both his leadership and the increasing integration of our businesses. I have tremendous confidence in Zach and our entire leadership team as we continue to execute against our long-term vision.”
Zach Leonsis also expressed his enthusiasm for stepping up into his new role.
“This is an incredibly important moment for Monumental, and I’m excited about the opportunity to help lead the company through its next phase of growth,” said Zach Leonsis. “We have exceptional leaders and teams across the organization, and will continue to focus on raising the bar for how we serve our fans and the entire DMV community. I’m grateful for the senior leadership team’s trust and look forward to working alongside them as we build on the momentum across Monumental.”
