December 7, 2016 / 9:06 PM / 8 months ago

Trump chooses pro wrestling magnate Linda McMahon to head SBA

2 Min Read

Linda McMahon speaks to members of the news media after meeting with U.S. President-elect Donald Trump at Trump Tower in New York, U.S., November 30, 2016.Mike Segar

WASHINGTON (Reuters) - U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration.

Trump's announcement said McMahon would be a key player in his effort to generate stronger job growth and roll back federal regulations.

McMahon, 68, is a co-founder and former CEO of the professional wrestling franchise WWE, which is based in Stamford, Connecticut. She ran unsuccessfully for a U.S. Senate seat in Connecticut in 2010. She was an early supporter of Trump's presidential campaign.

The SBA, which has at least one office in every U.S. state, provides support to small businesses such as by extending loans and making sure they get a percentage of federal contracts.

Trump said McMahon had helped the WWE grow from a 13-person operation to a publicly traded global enterprise with more than 800 employees worldwide. Trump is a WWE Hall of Fame member.

If confirmed by the Senate, McMahon would join a Trump economic team that includes Wall Street executives Steven Mnuchin at the Treasury Department and Wilbur Ross at Commerce.

"Linda has a tremendous background and is widely recognised as one of the country’s top female executives advising businesses around the globe," Trump said in the announcement.

McMahon said her goal as the SBA chief would be to promote small businesses and help them grow and thrive.

“Our small businesses are the largest source of job creation in our country,” she said.

Reporting by Steve Holland; Editing by James Dalgleish

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