Stephanie McMahon has stepped down from her roles (Picture: WWE)
Stephanie McMahon has resigned as WWE chair and co-CEO as her father Vince McMahon has been elected as executive chairman.
The daughter of the company’s founder has stepped down from her roles with Nick Khan now serving as sole CEO just days after Mr. McMahon announced he was returning to the board of directors having retired in July 2022 amid an investigation into allegations of misconduct.
In a statement on Twitter, Stephanie said: ”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, I am confident WWE is in the perfect place 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.’
Her father added: ‘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.’
This is a breaking news story, more to follow soon… Check back shortly for further updates.
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