Vince McMahon Officially Returns to WWE Board of Directors
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