WWE co-CEO Stephanie McMahon Announces Resignation Following Return of Vince McMahon
Update: Just days after Vince McMahon announced his return to the WWE following his retirement. his daughter and co-CEO Stephanie McMahon has announced her resignation from the company. Stephanie McMahon released an image on Twitter along with a message to the WWE Universe, saying:
“About eight months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. I had the privilege to return as co-CEO and chairwoman of the board of WWE. I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my co-CEO, Nick Khan.
Our founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. And with Nick’s leadership and Paul ‘Triple H’ Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders.
WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation.
I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan. I will always remain dedicated to WWE. I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners.
Thank you for everything.
Then. Now. Forever. Together.”
The original story follows below:
Former WWE CEO Vince McMahon has officially returned to WWE‘s board of directors after his departure just a few months ago. There had been reports circulating earlier in the week of his possible return and the wrestling organization’s founder was confirmed to be back on the board in an announcement by chairwoman and co-CEO Stephanie McMahon.
McMahon’s announcement of Vince’s return reads:
“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the board. We also welcome back Michelle Wilson and George Barrios to our board of directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”
During the shuffle, former board members Jeffrey Speed, Alan Wexler, and JoEllen Lyons were removed from the board with Ignace Lahoud and Man Jit Singh resigning from the board as of today. McMahon stepped away after his name was put in the spotlight amid sexual misconduct allegations.
The Wall Street Journal reported that he has returned to the company to explore the possibility of a sale of the company and elected himself executive chairman. With media rights set to be re-negotiated in the near future, McMahon has shown interest in a potential sale noting that he will not be accepting any media rights deals unless direct involvement from the outlet.
Source: Wall Street Journal