WWE history: The Nexus comes under "new management" with CM Punk as its leader
The backstory
On June 7, 2010, the eight rookies of NXT season one broke into the main roster scene in the most dramatic way possible, as The Nexus made a huge statement on their very first night in WWE. Within weeks after their debut, The Nexus ran roughshod through the entirety of WWE and pretty much destroyed everyone who dared to stand in their path of destruction.
In what initially seemed like a massive change of landscape in WWE, eventually turned out to be yet another disappointing invasion angle with members of The Nexus being exiled from the group one after the other. So much so, that by 2011, Nexus was under "new management" as the group's originator Wade Barrett was ejected from the group.
The New Nexus
On the 3rd January 2011 edition of Raw, Nexus member David Otunga announced that the group was apparently under new management after the exiling of former leader Wade Barrett, who lost his position in the faction after losing a Steel Cage match to Randy Orton and Sheamus.
Otunga, however, decided to offer John Cena a truce and a place back in Nexus, which of course, the latter would eventually decline. This led to yet another typical Nexus beatdown, as the group would once again brutally dismantle Cena and laid him out in the ring and left the N armband alongside Cena's prone body.
As the likes of Otunga, Heath Slater, and Justin Gabriel made their way out, Cena's arch-rival and the man who cost Barrett his place in Nexus, CM Punk, would make his way out to the ring. Punk would pick up the bones as he hit the GTS on Cena and would then shift his focus towards a steel chair, however, instead of beating Cena with it, Punk would slowly unfold the chair and would take a seat in the middle of the ring.
The former WWE Champion then picked up the Nexus armband and after a short stare, he would eventually slide it down his left arm, revealing himself as the "new management" of Nexus. Punk then raised that very same arm, officially declaring himself as the new leader of The Nexus.
The aftermath
Punk's run as the leader of The New Nexus was definitely fun and also gave life to the faction, only for a while though. However, the group wouldn't last for too long, as injuries eventually led to the departure of several members, whereas, Punk would go on to drop the historic pipebomb promo and would capture the WWE Championship in his hometown of Chicago in 2011.