WATERLOO, Iowa - The National Wrestling Hall of Fame Dan Gable Museum's George Tragos/Lou Thesz Professional Wrestling Hall of Fame announced Wednesday that Gerry Brisco is stepping down as president of its board of directors and moving into an advisory role. John Bradshaw Layfield will replace Brisco as president, effective immediately. 

Brisco, who has served as president since the Hall of Fame's inception in 1999, guided the Tragos/Thesz Hall of Fame through its growth and development and helped establish it as one of the most respected professional wrestling halls of fame. 

"I'm happy to be leaving the board in the capable hands of JBL, and I am confident that he and his support team will ensure that the Tragos/Thesz Hall of Fame continues to grow and remain the best," said Brisco, who won multiple championships in the NWA and WWE and is a member of multiple halls of fame, including the Tragos/Thesz Hall of Fame. 

Layfield, who received the Lou Thesz Award from the Tragos/Thesz Hall of Fame in 2012, made his professional wrestling debut in 1992 and won three WWE tag team championships with Ron Simmons. Following his retirement from the ring, Layfield has worked as a commentator for WWE programs while also serving as an English-language color commentator for Lucha Libre AAA, a WWE-controlled promotion. 

"I'm honored that Mr. Brisco has chosen me to help continue the incredible success he has worked so hard to achieve," said Layfield. "The team and I look forward to growing the Tragos/Thesz Hall of Fame and moving forward in building the Global Hall of Fame brand." 

Global Pro Wrestling Hall of Fame, LLC, which will work closely with the Tragos/Thesz Hall of Fame, was created to expand opportunities to serve the Hall of Fame, the Dan Gable Museum, professional wrestlers and the sport of professional wrestling. 

"The GPW Hall of Fame will not affect fans or the enshrinement of members of the Tragos/Thesz Hall of Fame," said Layfield, who serves as president of the organization. "We will announce more details in the future, but we view this as a win-win situation for both the GPW Hall of Fame and the Tragos/Thesz Hall of Fame."