Stephanie McMahon has officially stepped down as Co-CEO and Chairwoman of WWE. This shakeup in leadership at the professional wrestling giant comes less than a week after Stephanie's father, Vince McMahon, was reinstated to the company's board of directors after retiring amid controversy last year.Stephanie McMahon shared news of her resignation in a statement posted to Twitter. "Dear WWE Universe," she wrote. "About 8 months ago, I took a leave of absence and within a few weeks, unexpectedly had the opportunity of a lifetime. "I had the privilege to return as the Co-CEO and Chairwoman of the Board of WWE. I cannot put into words how proud I am to have led what I consider to be the greatest company in the world, working alongside a remarkable leadership team and one of the strongest executives I have known in my Co-CEO, Nick Khan. Our Founder, Vince McMahon, has returned as Executive Chair and is leading an exciting process regarding strategic alternatives."
McMahon continued, "And with Nick's leadership and Paul 'Triple H' Levesque as Chief Content Officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders. WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan. I will always remain dedicated to WWE. I truly love our company, our employees, our Superstars, and our fans. And I am grateful to all of our partners. Thank you for everything. Then. Now. Forever. Together."
Vince McMahon Has Returned to WWE
In June 2022, WWE's board began investigating Vince McMahon over alleged sexual impropriety, infidelity and multi-million dollar hush-money payments. During the investigation, Vince stepped down as Chairman and CEO, with Stephanie -- who had recently taken a leave of absence from WWE -- being named as his interim replacement. Despite this, Vince continued to oversee content development at the promotion. Amid mounting allegations, however, he officially retired from WWE altogether in July 2022. Soon after, Nick Khan was named as Stephanie's Co-CEO.
Earlier this month, it was reported that Vince McMahon was attempting to return to WWE by electing himself and two former company co-presidents and directors to the board. He was officially reinstated to the board of directors on Jan. 6. "Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board," Stephanie McMahon, Khan and Chief Content Officer Paul "Triple H" Levesque said in an official statement. "We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value."
Source: Twitter, via The Hollywood Reporter