After taking over as co-CEO of WWE after her father Vince McMahon retired, nearly seven months have passed since Stephanie McMahon made the announcement.
Stephanie McMahon Resigns From WWE, Leaving Vince in Charge Again
Announcing His Return
Last week, Vince McMahon announced his return to the organization and election to the WWE board of directors. He left amid an ongoing sexual misconduct investigation.
According to Dave Meltzer of the Wrestling Observer Newsletter, the board unanimously elected McMahon as its executive chairman.
However, the 46-year-old only recently made the surprising disclosure, writing a long statement on her intention to leave.
"About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime," McMahon said. "I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE."
WWE In Great Hands Following Her Retirement
As we previously reported, Vince reappointed himself to the board on Friday to assist in negotiating the upcoming WWE TV deal and to consider selling the business.
As the business considers strategic alternatives, Stephanie says her dad is taking the helm at an "exciting" time. With Khan and Triple H on board, Stephanie thinks WWE is in a fantastic position to continue producing top-notch content and boost shareholder value.
Why Vince Retired In July
After the Wall Street Journal reported that Vince McMahon had paid more than $12 million to four women over 16 years to quash claims of sexual misbehavior and infidelity, McMahon initially announced his retirement from WWE in July.
A former WWE paralegal with whom McMahon allegedly had a secret relationship, a former wrestler, and two other former employees were among the claimed victims. In December, The Journal reported that McMahon was dealing with fresh accusations from two women over related claims.
Triple H Becomes The Head Of Creative
Paul "Triple H" Levesque took over as chief content officer and led the company's creative division just a few days after Vince left last July. The 14-time world champion oversaw a hugely successful run for NXT, WWE's developmental brand, and was always viewed as Vince's long-term successor. Triple H is still in charge of creativity and isn't likely to leave the position.
On January 5th, 2023, Vince McMahon would unexpectedly re-join the board of directors of the WWE. The corporation announced and confirmed the new board's makeup in a formal press release. When the news was first revealed, McMahon reaffirmed that his return would not affect WWE's regular business operations.
Making Major Changes
As the company's controlling shareholder, McMahon replaced Jeffrey R. Speed, Alan M. Wexler, and JoEllen Lyons Dillon on the WWE board of directors with George Barrios and Michelle Wilson.
At the time of McMahon's return, Man Jit Singh and Ignace Lahoud both submitted their resignations from the board. The announcement of his return comes as WWE considers selling the business and their next TV rights contract.
McMahon explicitly prompted his return by telling the business that any potential sale or rights agreement would not be facilitated without his involvement.
Vince Becomes Executive Chairman
When his daughter left WWE, the business released the news of Vince McMahon's unanimous election as executive chairman.
McMahon will co-manage any potential company sales and future TV rights agreements with CEO Nick Khan.
New Changes Coming To WWE
Khan will continue to be the only CEO now.
There would undoubtedly be changes with new management at the WWE, but we're keeping an eye out for more.