Jan. 23 (UPI) -- Dwayne "The Rock" Johnson has joined the board of directors at TKO Group Holdings, Inc.
TKO, a sports and entertainment company that is the parent company of World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC), announced the news in a press release Tuesday.
Johnson, 51, is an actor and professional wrestler who is one of the most decorated WWE stars in the company's history. As a board member, he will provide promotional, licensing and other services to TKO.
In addition, Johnson has gained ownership of the trademarked name "The Rock," which is inspired by his father, WWE hall of fame wrestler Rocky Johnson.
Johnson's appointment reflects "TKO's commitment to delivering long-term value and strong performance for shareholders through strategic growth initiatives across both UFC and WWE."
"Very few people on the planet understand the convergence of sports, entertainment, media, and business like Rock. We are proud to have him join the TKO board to help take our company to new heights," Vince McMahon, TKO executive chairman of the board, said.
"My grandfather, High Chief Peter Maivia, and my dad, Rocky 'Soulman' Johnson, would've never thought this day would come. Which is why I'm very humbled to have a seat at the table that has decades of history and family legacy for me. A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, 'The Rock,' is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle," Johnson added.
TKO also announced Tuesday that WWE's flagship weekly program Raw will leave linear television after 31 years and exclusively stream on Netflix beginning in January 2025.