LAS VEGAS, NEVADA – JULY 2: Vince McMahon, Stephanie McMahon and Triple H attend UFC 276 event at T-Mobile Arena on July 2, 2022 in Las Vegas, Nevada.
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Stephanie McMahon has resigned WWE co-CEO and chairman after her father, Vince, was unanimously re-elected as the company’s executive chairman.
Stephanie McMahon return from vacation in July assumed the position of co-CEO after Vince retired amid allegations of sexual misconduct. She informed staff on Tuesday that she will step down again when Vince McMahon returns. facilitate the sale of the potential company.
“I cannot express in words how proud I am to help lead a company that I consider to be the greatest in the world, and I believe WWE is in the perfect position to continue delivering brilliant content. unparalleled creation and maximum value for shareholders.” Stephanie McMahon said in a statement.
Nick Khan, formerly co-CEO with the younger McMahon, will be the company’s sole chief executive officer. Stephanie McMahon’s husband, Paul “Triple H” Levesque, will continue to run WWE’s creative division.
Stephanie McMahon announced in May that she was on leave from her previous role as brand director to focus on family.
“I would like to express my full support for Stephanie’s personal decision,” Vince McMahon said in a statement Tuesday. “I will be forever grateful that she asked to join during my absence, and I am truly proud of the work she did as co-head of WWE. Stephanie has always been the ultimate ambassador for the company. our company and her decades of contributions have had a huge impact on our brand.”
Vince McMahon, the company’s former CEO and controlling shareholder, rejoined WWE’s board of directors last week and said he will help facilitate the sale of the company.
WWE has been considered a sales target for some time, CNBC previously reported, as the company owns intellectual property that could be valuable to streaming services businesses, sales, and publicity. entertainer.
The company hired JPMorgan to advise on a potential sale, CNBC previously reported.
— CNBC’s Lillian Rizzo contributed to this article.
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