Billy Corgan of The Smashing Pumpkins has just been named the new president of Impact Ventures, the parent company of the programs Impact Wrestling and Total Nonstop Action Wrestling or TNA. The company's former president, Dixie Carter, will now serve as chief strategy officer and chairman.

In a press release from Impact Ventures, the company noted that as president, Corgan will handle its daily operations. Carter, on the other hand, will take care of its international growth, long-term planning and corporate partnerships.

According to Carter, Corgan has always been a committed and reliable member of the company.

"In working with Billy over the last 16 months, he has impressed me to the point that I've been in discussions with him to take on an elevated strategic leadership role within the company," she said in a statement.

"The more we discussed our vision for the organization, the clearer it became that position needed to match his commitment," Carter added.

As noted by Rolling Stone, working in the professional wrestling industry is not new for Corgan. Aside from being a fan since he was a child, he ran his own wrestling promotion called Resistance Pro League before joining Impact Ventures as a producer in 2015.

Aside from this, he also made an appearance on Extreme Championship Wrestling or ECW in 2000. He became part of the program's storyline when he used his acoustic guitar to hit a wrestler on the head, WCNC reported.

For his new position at Impact Ventures, Corgan noted that he is dedicated to doing whatever it takes to expand the reach of the company and its programs.

"I believe in this company, its passionate fans, the talented roster and the dedicated staff and crew," he said in a statement. "I am committed to this great opportunity and will use all of my resources to drive the success of this company."

"This year we have made significant strides in establishing a strong foundation for our future and will be aggressive in continuing to evolve and grow the Impact brands," Corgan continued.