Vince McMahon returns to WWE as a board member - CNN

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New York CNN —

Former World Wrestling Entertainment main enforcement Vince McMahon is returning to the institution arsenic a committee member, aft a six-month hiatus pursuing a hush wealth and intersexual harassment scandal.

WWE connected Friday confirmed McMahon’s return, besides announcing successful a property merchandise that it “intends to undertake a reappraisal of its strategical alternatives with the extremity being to maximize worth for each WWE shareholders,” suggesting that the institution could beryllium exploring a sale. Shares closed 17% higher aft the announcement.

“WWE has an exceptional absorption squad successful place, and I bash not mean for my instrumentality to person immoderate interaction connected their roles, duties, oregon responsibilities,” McMahon said successful the release.

McMahon retired arsenic CEO successful July 2022, but remains the company’s bulk shareholder. Following his departure, the WWE disclosed aggregate expenses that McMahon hadn’t reported, totaling $19.6 million. That forced the institution to revise its fiscal statements for 2019, 2020 and 2021.

Although galore of the payments are related to the company’s probe of his alleged intersexual misconduct with erstwhile employees, McMahon reportedly made undisclosed payments to of $5 cardinal to erstwhile President Donald Trump’s charity, the Donald J. Trump Foundation, successful 2007 and 2009, according to the Wall Street Journal.

The Journal successful July 2022 reported McMahon paid much than $12 cardinal to 4 women, including the 1 from the anterior report, to screen up “allegations of intersexual misconduct and infidelity.”

In summation to his return, McMahon shook up the institution committee and replaced 3 people. However, his girl Stephanie — who took implicit arsenic co-CEO and committee seat aft McMahon’s status — volition clasp those aforesaid roles.

In 2021, WWE struck a woody with NBC’s Peacock to watercourse wrestling events connected the level for a woody “valued astatine much than $1 billion,” the Journal reported.

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