Following the news of Vince McMahon’s return, a number of members of the WWE Board of Directors were dismissed. It’s worth noting that Mr. McMahon wasn’t the only person who was reinstated in the board.
When Vince twitted in July 2022 that he would be leaving his post at WWE, the entire WWE universe was in disbelief. Some people felt that he might be retiring due to old age, while others suspected it was due to other reasons.
He was then under investigation for reportedly compensating former female workers a sizable amount of money to keep their mouths shut on the sexual misconduct in the organisation.
Vince McMahon’s daughter Stephanie then succeeded her father as chairperson and shared the role of CEO with long time investor Nick Khan.
The post of Head of Creative was given to his son-in-law Paul “Triple H” Levesque, who was eventually elevated to the position of Chief Content Officer.
The 77-year-old McMahon’s entrance back into the picture, however, could lead to significant adjustments for the Management board.
JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler were sacked from the WWE Board of Directors, according to a new SEC filing. Eventually Vince McMahon, George Barrios, and Michelle Wilson took over the three open positions.
It was later stated in a press release that :
“The decisions were conveyed in writing to the governing board of WWE today and consist of the appointment of Mr. McMahon to the Board as well as Michelle Wilson and George Barrios, who were previously Co-Presidents and Board members of WWE and are now Co-Founders and Co-CEOs of Isos Capital Management, as well as the necessary removal of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board,”
Vince McMahon might be selling off some portion of WWE
It appears that the former Chairman’s return could lead to yet another significant change. In the same press release, Vince also expressed his desire to capitalise on special business possibilities and maximise shareholder value.
Significant rise in WWE’s shares was seen result of this statement. Stock market witnessed $8 (12%) increase in WWE shares today due to the statement made by Vince McMahon.
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