WWE recently announced that the company has now unanimously elected Vince McMahon as executive chairman of the board.
The 77-year-old resigned in July last year over allegations he paid “hush money” to a former female employee. After his departure, his daughters Stephanie McMahon and Nick Khan succeeded him as co-CEOs.
However, Stephanie McMahon soon announced her resignation from the company and Mr. McMahon was elected Executive Chairman of the Board. Nick Khan will now serve as the company’s sole CEO. The former co-CEO said in a statement that she wanted to take a leave of absence, a decision she made before taking over the company.
Vince McMahon commented on Stephanie McMahon’s departure in a press release (via enterprise.wwe.com) and thanked her daughter for her contribution to the company.
“First, I want to express my full support for Stephanie’s personal decision. I will be forever grateful for her offering to step in during my absence, and I am truly proud of the work she has done to co-lead WWE. Stephanie has been an integral part of our company The ultimate ambassador, her decades of contributions have had an immeasurable impact on our brand,” said Vince McMahon.
The 77-year-old added that Nick Khan will serve as CEO of the company and they will seek to maximize value for shareholders.
“I am proud to announce Nick Khan will be WWE Chief Executive Officer. Nick’s business acumen and media industry mastery have helped our business achieve record revenue and profitability. Review our strategic options and maximize value for all WWE shareholders,” added Vince McMahon.
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Stephanie McMahon announces departure after Vince McMahon becomes executive chair
former president announce to leave Since her father left the company, he was unanimously elected executive chairman.
In her statement, Stephanie McMahon said she has full confidence in the company’s ability to create compelling content and maximize shareholder value.
“Our founder, Vince McMahon, returns as Executive Chairman and leads an exciting strategic selection process. Under Nick’s leadership, Paul ‘Triple H’ Levesque ( Paul “Triple H” Levesque as Chief Content Officer, I am confident that WWE will continue to deliver unparalleled creative content and maximize shareholder value.”
It appears that Triple H will remain in control of the company’s ideas for the time being.
With WrestleMania 39 approaching, it remains to be seen whether Mr. McMahon will contribute anything to the creative decisions.
What do you think of Vince McMahon being unanimously elected Executive Chairman of the Board? Let us know your thoughts in the comments section below.