March 29 (UPI) -- Linda McMahon resigned as head of the Small Business Administration to chair a super PAC that supports the Trump re-election campaign, the president said Friday.
President Donald Trump made the announcement while speaking to reporters at his Mar-a-Lago estate in Palm Beach, Fla. McMahon's resignation is effective April 12.
McMahon "is an outstanding woman who has done an outstanding job," he said.
McMahon said it was "the honor of a lifetime" to work for the Trump administration.
"I'm very proud of the work this agency has done to improve the way we connect small businesses to capital, counseling and government contracts," she said. "I wish to thank the President and I will continue to be a strong advocate for him and his policies."
McMahon, a former World Wrestling Entertainment executive, has been the only SBA administrator of Trump's administration. The Senate approved her Feb. 14, 2017, by a vote of 81-19.
She will chair the American First Action super PAC, which is expected to be key in Trump's re-election campaign, Politico reported.
Prior to joining the Trump administration, McMahon had no government experience, but she touted her background as leader of the WWE, which grew to see revenue in the hundreds of millions of dollars.
McMahon was active in Republican politics as a donor after leaving WWE.
Trump said he plans to nominate McMahon's successor in the SBA soon.