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WWE Co-CEO Stephanie McMahon Resigns While Her Dad Vince Returns As Executive Chairman

By Staff, REUTERS.

WWE Chief Brand Officer Stephanie McMahon attending the WrestleMania 35 Press Conference held at MetLife Stadium in New Jersey, NY, USA, on March 16, 2018. The news conference will officially announce the return of WrestleMania to MetLife Stadium in 2019. The event is expected to draw visitors from around the world to the New Jersey/New York region for a week of activities. Information provided will include the potential local economic impact of WrestleMania Week and the international exposure that will be created in the region.

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World Wrestling Entertainment elected former chief Vince McMahon as the executive chairman of the board on Tuesday, the company said, adding that co-chief executive officer and chairwoman Stephanie McMahon resigned from her role.

Nick Khan will serve as the new WWE CEO, the entertainment firm added.

Vince McMahon, 77, returned to the board last week and elected himself and two former co-presidents and directors Michelle Wilson and George Barrios to the board.

Read more: Vince McMahon returns to WWE after misconduct investigation

McMahon’s daughter Stephanie announced her resignation in a statement posted on Twitter.

“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 said.

Vince McMahon, who ran the company for four decades, said last week that the only way for WWE to fully capitalize on growing demand for content and live entertainment was for him to return as executive chairman.

The company also announced at the time that it would explore strategic alternatives.

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McMahon retired in July last year, as the company’s CEO and chairman, following an investigation into his alleged misconduct. Later, WWE said that it found some unrecorded expenses tied to McMahon.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Rashmi Aich)

© Reuters
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