WWE announced McMahon will be in Monday's episode of Raw for an undisclosed segment:
McMahon was kayfabe fired by Kevin Owens in the conclusion of their months-long feud on the 20th anniversary episode of SmackDown. He's remained involved backstage but has been kept out of any on-screen role in the 10 months since his departure.
It's likely McMahon's segment will be related to some sort of SummerSlam program. The 50-year-old doesn't have an obvious opponent on paper, though his appearance on Raw would indicate he'll be involved on August 23 with someone on that roster.
Owens is currently on the Raw roster. Another possibility could see McMahon feud with Randy Orton, who has returned to his "Legend Killer" gimmick in recent months. Orton has taken out Edge, Christian and The Big Show, and Orton and McMahon have a rivalry that stretches back more than a decade.
Regardless, it's pretty likely we'll be seeing Shane-O-Mac jumping off something high sometime in the near future.