20 C
London
Monday, June 24, 2024

Stephanie McMahon resigns, Vince McMahon returns: Full timeline of WWE changes, future of the company

- Advertisement -

Stephanie McMahon has announced her resignation from WWE, just days after her father Vince returned to the company.

The founder of WWE ‘retired’ in July 2022 after a string of sexual misconduct allegations, but is now back on the board of directors and will take over as executive chair after being unanimously voted in.

In the wake of Stephanie’s exit, questions were immediately raised regarding the future of her husband Paul ‘Triple H’ Levesque in the company, but early indications are that he will stay in his role of chief content officer and head of creative. 

Business mogul Nick Khan will act as the sole CEO of the company moving forward.

In a statement released on social media, Stephanie thanked the WWE for allowing her to lead the pro wrestling juggernaut and believes they are in safe hands moving forward.

Vince would release a statement thanking his daughter for her service to the company on WWE’s official website.

“First, I’d like to express my full support for Stephanie’s personal decision. 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,” he said.

“Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.

“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability.

“Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”

The changes at the executive level are not expected to impact the day-to-day WWE programming at this stage, with Levesque remaining in charge of talent and TV at the time of writing. 

The Sporting News details an extensive timeline of the events from July to January in the WWE front office below. 

Vince McMahon retires from WWE – July 22nd, 2022

After a bombshell report from the Wall Street Journal, Vince McMahon announced his retirement in July 2022. 

The 77-year-old paid ‘hush money’ worth over $12 million and spanning 16 years to multiple ex-WWE employees, as well as being alleged of multiple sexual misconduct allegations. 

McMahon’s exit would see his daughter Stephanie and businessman Nick Khan take over the running of the company, however he would remain as a majority shareholder. 

Triple H takes over creative – July 23rd, 2022

Just days after Vince’s exit last July, Paul ‘Triple H’ Levesque would take over as chief content officer, heading up the company’s creative department. 

The 14-time world champion was always seen as Vince’s long-term successor, after controlling a highly-successful run for WWE’s developmental brand of NXT.

Triple H remains in charge of creative at the time of writing and is unlikely to step down from the role. 

Vince McMahon returns to the board – January 5th, 2023

In a shocking move to start 2023, Vince McMahon would return to the WWE board of directors on January 5th. 

The company announced the news in an official press release, confirming the new composition of the board.

At the time of the announcement, McMahon reiterated that his return would not have any impact on the day-to-day operations of WWE. 

As the controlling shareholder of the company, McMahon removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the WWE board of directors, replacing them with George Barrios and Michelle Wilson. 

Ignace Lahoud and Man Jit Singh also resigned from the board at the time of McMahon’s return. 

The news of his comeback coincides with a time when WWE are investigating the option of a potential sale of the company, as well as their next TV rights deal.

McMahon indicated to the company that any potential sale or rights deal would not be facilitated without his involvement, which directly led to his return. 

Stephanie McMahon resigns from WWE – January 10th, 2023

Less than a week after her father’s return to WWE, Stephanie McMahon has announced her resignation from her roles as co-CEO and executive chairwoman. 

The 46-year-old told staff and talent on Tuesday, before releasing a statement via social media.

McMahon is a highly-respected figure within WWE and has overseen a plethora of positive changes and initiatives throughout her tenure, both in the United States and globally. 

Vince McMahon reinstated as WWE Chairman – January 10th, 2023

Immediately following the news of his daughter’s exit from WWE, the company would announce that Vince McMahon had been unanimously elected as executive chairman. 

Along with CEO Nick Khan, McMahon will oversee a potential sale of the company as well as any future TV rights deals. 

“First, I’d like to express my full support for Stephanie’s personal decision,” he said.

“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.

“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability.

“Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”

McMahon is not expected to return as head of creative at this stage, with his son-in-law Paul ‘Triple H’ Levesque expected to continue in the role. 

Latest news
Related news