Vince McMahon reportedly plans to return to WWE after several months to retire amid an investigation Indicated for misconduct.
The 77 year-old entrepreneur, majority shareholder and former CEO of the wrestling company, has reportedly told the company that his intention to elect himself to the board along with his former cochairs and directors. Michelle Wilson and George Barrios.
Three directors currently in office will have to resign.
McMahon, who was CEO and chairman of the company, resigned in July after The Wall Street Journal reported. He was allegedly paid millions of dollars Many women are left in silence after alleged relationships or sexual misconduct.
Right Now Wall Street JournalHe stated that he had informed the board in December of his desire for a return to the company to lead the “strategic reviews process”.
He believes that there is a very narrow window for selling WWE media rights. This includes Raw and SmackDown rights.
McMahon was reportedly told last month that the board had responded by telling McMahon it was open to working together on the review process.
He was however said to have been informed by the board that they had unanimously decided that his return would not be beneficial for shareholders.
Sources familiarized with the letters informed the outlet that McMahon stated to the board that he would not approve any media rights deal or sale unless he held a direct role in it.
Speaking after retiring in the summer, McMahon said, “I am absolutely confident in WWE’s continued success, and I leave our company in the hands of an extraordinary group of superstars, employees, and executives—in particular, the Chairman & Associates.” – Chief Executive Officer Stephanie McMahon, and Nick Khan, Co-CEO.
As the majority shareholder, WWE will continue to be supported in any way possible. My personal thanks to the community, business partners, shareholders and Board of Directors, for their support and guidance over the years.
In addition, Stephanie and Nick have been given new roles. WWE later promoted Triple H — whose real name is Paul Levesque — to chief content officer, while also taking full creative direction for the company.
Metro.co.uk We reached out to Vince McMahon’s attorney Jerry McDevitt, and a representative from WWE for comment.
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