WWE co-CEO Stephanie McMahon actions down as Vince McMahon returns

WWE transitions from pay-per-view to streaming on Peacock

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LAS VEGAS, NEVADA – JULY 02: Vince McMahon, Stephanie McMahon and Triple H go to the UFC 276 occasion at T-Mobile Arena on July 02, 2022 in Las Vegas, Nevada.

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Stephanie McMahon has actually resigned as WWE co-chief executive officer and chairwoman after her daddy, Vince, was all re-elected as the business’s executive chairman.

Stephanie McMahon returned from a leave of lack in July to take control of as co-CEO after Vince retired amidst accusations of sexual misbehavior. She educated personnel Tuesday that she is once again stepping down as Vince McMahon go back to assist in a possible sale of the business.

“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders,” Stephanie McMahon stated in a declaration.

Nick Khan, previously co-CEO together with the more youthful McMahon, will act as the business’s sole CEO. Stephanie McMahon’s partner, Paul “Triple H” Levesque, will continue to run WWE’s imaginative department.

Stephanie McMahon revealed in May she was taking a leave of lack from her previous function as primary brand name officer to concentrate on her household.

“I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon stated in a declarationTuesday “I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.”

Vince McMahon, previous CEO and managing investor of the business, rejoined the WWE board of directors recently and stated he would assist to assist in a sale of the business.

WWE has actually been thought about a sale target for a long time, CNBC formerly reported, as the business owns copyright that might be important to streaming service, retailing and amusement park services.

The business has actually worked with JPMorgan to encourage on the possible sale, CNBC formerly reported.

— CNBC’s Lillian Rizzo added to this post.

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