Stephanie McMahon resigns as WWE co-CEO; Vince McMahon returns as executive chairman
Stephanie McMahon has resigned as WWE co-chief executive officer and chairwoman after her father, Vince, was unanimously re-elected as the company’s executive chairman.
Stephanie McMahon returned from a leave of absence in July to take over as co-CEO after Vince McMahon retired amid allegations of sexual misconduct.
She informed staff Tuesday that she is again stepping down as Vince McMahon returns to facilitate a potential sale of the company.
“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders,” Stephanie McMahon said in a statement.
Nick Khan, formerly co-CEO alongside the younger McMahon, will serve as the company’s sole CEO. Stephanie McMahon’s husband, Paul “Triple H” Levesque, will continue to run WWE’s creative division.
Stephanie McMahon had announced in May she was taking a leave of absence from her prior role as chief brand officer to focus on her family.
“I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon said in a statement Tuesday. “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. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.”
Vince McMahon, former CEO and controlling shareholder of the company, rejoined the WWE board of directors last week and said he would help to facilitate a sale of the company.
WWE has been considered a sale target for some time, CNBC previously reported, as the company owns intellectual property that could be valuable to streaming service, merchandising and theme park businesses.