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Mike CoppingerESPN
Stephanie McMahon announced her retirement as WWE executive on Tuesday night, less than a week after her father, Vince McMahon, came out of retirement and returned as chairman of the board.
Stephanie McMahon was also the chairman of the publicly traded company before her father returned on Friday. He shared the CEO duties with Nick Khan, who is the sole CEO of WWE. Her husband, WWE Hall of Famer Paul “Triple H” Levesque, remains in place as the person driving WWE’s weekly news, a position he took after Vince McMahon, who had been in charge of production since 1982, first left. company in July.
“With the leadership of Nick and Paul ‘Triple H’ Levesque as chief content officer, I am confident that WWE is in the best position to continue to provide unparalleled production and drive great value for shareholders,” Stephanie McMahon wrote in a statement released on Twitter. his followers are 3.2 million.
“WWE is in such a strong position that I decided to go back on my vacation to continue my retirement. I look forward to enjoying WWE from the other side of the business, where I started when I was in the business. As a young kid, as a real fan.”
Vince McMahon’s retirement in July came in the wake of allegations of adultery that included the payment of a non-disclosure agreement. Although McMahon used his own money to pay for the NDA, he failed to record the money, which totaled $19 million.
In a statement announcing his return on Thursday, Vince McMahon said the move was made to “take full advantage” of WWE’s upcoming media coverage. The network’s wrestling deals with USA and Fox for “Monday Night Raw” and “Friday Night SmackDown,” respectively, expire next year.
“I want to express my full support for Stephanie’s decision. I will always be grateful that she volunteered to step in during my absence and I am proud of the work she has done with WWE,” said Vince McMahon. , who purchased the company from her father in 1982. “Stephanie has always been a great ambassador for our company, and her decades of contributions have left an incalculable impact on our brand.
Vince McMahon added about Khan, “Nick’s business acumen and media industry acumen have helped grow our business to record revenue and profitability. Together, we look forward to working with the Board during this difficult time to explore ways we can do more and add value to all WWE shareholders.”
Those strategic strategies can lead to the sale of the company before the media rights negotiations. In return to the company, Vince McMahon also welcomed former WWE presidents Michelle Wilson and George Barrios to the board.
Stephanie McMahon was WWE’s longest-tenured referee, often alongside her father and husband, Triple H. She took a break in May but said she would return after taking time off to focus on her family.
Stephanie McMahon returned three weeks later to help guide the company through the controversy surrounding her father. With his return, he has now decided to leave again.
“Stephanie McMahon is an awesome boss and an even better person,” said Khan, who negotiated WWE’s media rights as an agent at CAA before joining WWE as president. “It was an honor to work with him as CEO, he will only continue to be successful.
“I am grateful to Vince McMahon and the Board of Directors for their continued support. I look forward to continuing to work with them and my WWE colleagues to ensure that our company can succeed as a major force in sports entertainment for years to come.”
