Stephanie McMahon resigned from her position as the CO-CEO of World Wrestling Entertainment as her father Vince McMahon was unanimously elected as the Executive Chairman of the board. Nick Khan will now continue as the CEO of the organisation.
“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 a perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders,” said Stephanie in a press release put out by WWE.
Vince McMahon then said that Khan will serve as the CEO and together they will look to review their strategic alternatives. It has long been reported that Vince was trying to get back on WWE's board to pursue a sale of the business. Stephanie's resignation may just be the start of it all.
Vince's Statement
“I’m proud to announce that Nick Khan will serve as WWE CEO. 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,” said Vince.
Nick Khan's Statement
“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”
Background
Vince stepped down from his position last year after allegations of him paying hush money to one of his female employees. Following his departure, his daughter Stephanie stepped up as the CO-CEO and Triple H was promoted as the head of creatives.
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