May 19, 2024

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WWE Co-CEO Stephanie McMahon is stepping down with the return of Vince McMahon

WWE Co-CEO Stephanie McMahon is stepping down with the return of Vince McMahon

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

Jeff Butari | UFC | Getty Images

Stephanie McMahon has resigned WWE Co-CEO and Chair of the Board after her father, Vince, was unanimously re-elected as CEO of the company.

Stephanie McMahon Returned from vacation in July To take over as co-CEO after Vince He retired amid allegations of sexual misconduct. She told the staff on Tuesday that she would be stepping down again with the return of Vince McMahon Facilitate a potential sale of the company.

“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 that WWE is perfectly positioned to continue to deliver unparalleled creative content and maximize shareholder value.” Stephanie McMahon he said in a statement.

Nick Khan, formerly co-CEO along with McMahon the Younger, will be the sole CEO of the company. Stephanie McMahon’s husband, Paul “Triple H” Levesque, will continue to run WWE’s creative department.

Stephanie McMahon She announced in May that she was on vacation From her previous role as head of the brand to focus on her family.

“I would like to express my full support for Stephanie’s personal decision,” Vince McMahon said in a statement on Tuesday. “I will be forever grateful that she offered to step in during my absence and I am truly proud of the job she has been involved in leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have made an immeasurable impact on our brand.”

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Former CEO and controlling shareholder of the company, Vince McMahon, returned to the WWE board of directors last week and said he would help facilitate the sale of the company.

CNBC previously reported that WWE had been considered a sale target for some time, as the company has intellectual property that could be valuable to the streaming service, merchandising, and theme park business.

The company has hired JPMorgan to advise on the potential sale. CNBC previously reported.

— CNBC’s Lillian Rizzo contributed to this article.

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