Coming off recent news by the Wall Street Journal of Vincent Kennedy McMahon returning to WWE to assist in the sales process of the promotion, Vince McMahon has now been elected by the Board Of Directors as Executive Chairman Of The Board of the company.
The press release was published and sent out shortly after Stephanie McMahon took to Twitter to tweet out her official resignation from the Co-CEO position with the company and stating n her tweet that she would be returning to her leave of absence that she initially took prior to taking the Co-CEO position several months ago.
Below is the official press release sent out by WWE Corporate of Vince McMahon being elected as Executive Chairman Of The Board which contains comments from Vince McMahon, Stephanie McMahon, and current CEO Nick Khan:
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
Vince McMahon Elected as Executive Chairman of the Board of WWE
01/10/2023
STAMFORD, Conn.–(BUSINESS WIRE)– 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.”
Stay tuned to Last Word on Sports for more news as it develops.
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