WWE Co-CEO Stephanie McMahon Resigns - Hollywood Reporter

Less than a week aft Vince McMahon appointed himself to the WWE committee of directors, the institution is undergoing a large enactment shake-up.

Stephanie McMahon, his daughter, who had been serving arsenic co-CEO of the WWE alongside Nick Khan, has resigned. McMahon announced the determination connected her societal media pages Tuesday evening.

“With Nick’s enactment and Paul ‘Triple H’ Levesque arsenic main contented officer, I americium assured WWE is successful the cleanable spot to proceed to supply unparalleled originative contented and thrust maximum worth for shareholders,” she wrote.

The WWE confirmed that Khan is present the sole CEO of the company.

Khan and Stephanie McMahon were named co-CEOs past twelvemonth aft Vince McMahon retired pursuing a committee probe into allegations that helium had intersexual relationships with employees astatine the institution and subsequently paid the women millions of dollars arsenic portion of their severance packages.

Her husband, Levesque, was elevated to oversee each content.

However, past week Vince McMahon exercised his authorization arsenic the company’s controlling shareholder to occurrence 3 of the WWE’s committee members and adhd himself and 2 erstwhile executives to the board. Two different WWE committee members resigned pursuing the move.

McMahon said that helium felt helium needed to instrumentality to prosecute a reappraisal of strategical alternatives for the institution — including a imaginable merchantability — up of media rights negotiations which were expected to statesman this year.

However, analysts have been connected the fence arsenic to whether helium would beryllium a help, oregon a hinderance, to the process.

Vince McMahon founded the institution decades ago, and led it alongside his woman Linda McMahon. Stephanie McMahon appeared regularly arsenic a performer, earlier taking connected an enforcement relation successful caller years, including overseeing marketing, earlier being elevated to co-CEO.

In her statement, Stephanie McMahon said that “I look guardant to cheering connected WWE from the different broadside of the business, wherever I started erstwhile I was a small kid, arsenic a axenic fan.”

“I volition ever stay dedicated to WWE,” she added. “I genuinely emotion our company, our employees, our superstars, and our fans. And I americium grateful to each of our partners.”

In letters sent past period betwixt the WWE committee (which Stephanie and Levesque beryllium on) and Vince, the committee said it unanimously believed that it would beryllium a mistake for him to instrumentality to the company.

“This determination is based connected a assortment of factors, including non-public information the Board has go alert of and the risks to the Company and its shareholders of placing a greater spotlight connected these issues,” the committee wrote.

Wolfe expert Peter Supino highlighted McMahon’s instrumentality arsenic a imaginable boon, but besides a risk, for the company, past week.

“Given the TV ratings and banal outperformance since stepping down, we recognize the board’s hesitation, but if the intent is to prosecute a merchantability portion removing the uncertainty of Vince’s volition for bidders and shareholders, past we invited the move,” Supino wrote, adding “we besides wonderment whether Vince volition insert himself successful management, adding header hazard for a buyer.”