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Mike CoppingerESPN
Stephanie McMahon announced her departure as co-CEO of WWE on Tuesday evening, 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 president of the company publicly before her father returned on Friday. He shared the role of CEO with Nick Khan, who is now the sole CEO of WWE. Her husband, WWE Hall of Famer Paul “Triple H” Levesque, remains in his position as the weekly WWE television anchor, a position he inherited from Vince McMahon, who has been in charge of creative since in 1982, left the first. the company in July.
“With the leadership of Nick and Paul ‘Triple H’ Levesque as Chief Content Officers, I am confident that WWE is in the perfect position to continue to deliver unique creative content and deliver the highest value for the participants,” Stephanie McMahon wrote in a statement posted on Twitter. He has 3.2 million followers.
“WWE is in a strong position so I have decided to come back from vacation and take it one step further with my official resignation. I look forward to cheering on WWE from the sidelines.” different from the business, which I started as a small child, as a pure fan.”
Vince McMahon’s retirement in July came in the wake of allegations of sexual misconduct involving the payment of a non-disclosure agreement. Although McMahon used personal funds to pay for the NDA, he failed to document those expenses, which totaled $19.6 million.
In a statement announcing his return on Thursday, Vince McMahon said the move was made to “take full advantage” of future WWE media rights negotiations. The pro-wrestling network is negotiating with USA and Fox for “Monday Night Raw” and “Friday Night SmackDown,” respectively, ending next year.
“I want to express my full support for Stephanie’s personal decision. I will be forever grateful that she stepped in during my absence and I am very proud of the work she has done. with WWE,” said Vince McMahon, who bought the company from his father in 1982. “Stephanie has been an ambassador for our company ever since, and her presence has had an immeasurable impact on our brand. share for decades.
Vince McMahon added of Khan, “Nick’s knowledge and expertise in the media industry has helped drive our company to record revenues and profits. Value to of all WWE owners.”
These strategic choices may lead to the sale of the company before media rights are negotiated. Returning to the company, Vince McMahon also welcomed WWE co-presidents Michelle Wilson and George Barrios to the board.
Stephanie McMahon has been a long-time fixture in WWE as an on-screen host, often with her father and husband, Triple H. She took a month off May but said he would return after taking time to focus on his family.
Stephanie McMahon returned three weeks later to help lead the company through the controversy surrounding her father. When he came back, he decided to leave again.
“Stephanie McMahon is a wonderful executive and an even better person,” said Khan, who currently negotiates WWE media rights as a CAA representative before becoming president. “It is an honor for the general manager to work with him.”
“I am grateful to Vince McMahon and our Board of Directors for their continued support. I look forward to continuing to work closely with them and my colleagues at WWE to ensure that the our company can thrive as a premier powerhouse in sports entertainment for years to come.”
