World Wrestling Entertainment CEO Stephanie McMahon announced her resignation following the return of her father to the company.
McMahon had stepped in following Vince McMahon’s departure as CEO earlier this year amid a sexual misconduct investigation. Stephanie McMahon’s departure leaves Nick Khan as the sole CEO. Her husband, Paul “Triple H” Levesque, is the chief content officer. Her father returned to the company last week as executive chairman.
“Our founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives. 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,” Stephanie McMahon said in a statement posted on Twitter.
FORMER WWE CEO VINCE MCMAHON TO RETURN AS EXECUTIVE CHAIRMAN
“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,” she added.
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
Her father supported her move and expressed his gratitude for her leadership during his absence.
“I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE,” Vince McMahon said, according to ESPN. “Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.
He went on to praise Khan, the new CEO.
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“Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders,” Vince McMahon said.
