Stephanie McMahon resigns from WWE.
As of January 10, 2023, Stephanie McMahon has announced her resignation from WWE. Stephanie had been serving as Co-CEO and Chairwoman of WWE's Board of Directors following her father, Vince McMahon's retirement from WWE on July 22, 2022.
Stephanie made the announcement via a tweet sent out at 6:36 P.M. eastern time.
Dear WWE Universe,
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. And with Nick's leadership and Paul "Triple H" Levesque as Chief Content Officer, l 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.
-Steph
In the wake of this announcement, WWE has announced that the board of directors unanimously elected Vince McMahon as the board's executive chairman. Additionally, their announcement includes statements from Vince McMahon and Nick Khan regarding the departure of Stephanie McMahon.
STAMFORD, Conn., January 10, 2023– WWE (NYSE: WWE) today announced that its Board of Directors unanimously elected Vince McMahon Executive Chairman of the Board.
Stephanie McMahon has resigned from her roles as Chairwoman and Co-CEO.
Nick Khan will serve as WWE CEO.
Vince McMahon:
“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. 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.”
Stephanie McMahon:
“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.”Nick Khan:
“Stephanie McMahon is a terrific executive and an even better person. It has been an honor to serve as Co-CEO with her. She will only continue to succeed.“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TVPG programming can be seen in more than 1 billion homes worldwide in 30 languages through world class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.Additional information on WWE can be found at wwe.com and corporate.wwe.com.
Stephanie McMahon briefly took a leave of absence in 2022. She quickly returned to WWE when Vince McMahon needed to step down following an internal investigation regarding alleged hush pacts related to claims of Vince's alleged sexual misconduct.
Vince McMahon returned to WWE's Board of Directors on Friday, January 6, to be involved in media rights discussions and any discussions related to the potential sale of WWE.
Reportedly, WWE has hired JPMorgan to advise the company on a potential sale. Learn more here.
