Metro Manila (CNN Philippines, November 17) — Paula Shugart announced the end of her tenure as Miss Universe president after the prestigious pageant’s national costume show in El Salvador on Friday.
“I can’t think of a better place than in this country and on this magnificent stage to announce the end of my tenure as the president of Miss Universe. I have decided that this Saturday will be my last show,” she said.
The president’s exit comes after reports that Thailand-based Miss Universe owner JKN Global Group had filed for bankruptcy in its country.
JKN earlier clarified that it will only rehabilitate its business, explaining that the filing is a “necessary step” to repay its debt and to remain financially stable.
However, Shugart said her exit has nothing to do with the filing of bankruptcy.
“To be clear, this decision has been months in the making and not a response to recent events,” Shugart said.
The president thanked the organization for all the adventures and pageant productions she was part of and said her exit does not mean goodbye.
“Don’t think for one minute that I am retiring. I have an unbelievable story to tell and I look forward to telling it,” she said.
Shugart has served as president of the Miss Universe Organization since 2001 and first joined as vice president of production in 1998. Her duties included overseeing production of the annual Miss Universe telecast and also overseeing all business transactions.
