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Vince Mcmahon has officially returned to WWE following the news we brought you this morning. A new legal filing claims Vince McMahon is returning to the WWE board of directors. Former WWE co-chairs Michelle Wilson and George Barrios are also on the board.
Directors Alan Wexler, Joellen Lyons Dillon and Jeffrey Speed were removed. The file proves that Vince made changes to WWE's bylaws to focus on media rights and company sales, which cannot be done without his approval. The filing also includes the emails Vince sent to the board.
And you can read it all here.
Vince McMahon is back
This morning we wrote to you about Vince McMahon's intention to return, with subsequent confirmation, via press release, also from WWE. “January 5, 2023 Vince McMahon, founder and controlling shareholder of World Wrestling Entertainment Inc., today announced that he has taken the necessary actions to position the company to capitalize on a unique opportunity to maximize long-term value for all.
WWE shareholders. These required actions, communicated to the WWE Board of Directors today via written consent, include the election to the board of Mr. McMahon, as well as Michelle Wilson and George Barrios, former WWE co-presidents and board members, and currently co-chairmen of WWE.
-founders and Co-CEO of Isos Capital Management – and the necessary removal from the board of three directors. Mr. McMahon plans to take on the role of executive chairman of the board. […] Before providing written consent, Mr.
McMahon sent two separate letters to the board in late December, expressing the urgency of his return to the company as executive chairman and his desire to work collaboratively with the board and management team. Following conversations with company representatives both before and after Mr.
McMahon's last letter on Dec. 31, McMahon has determined, consistent with his rights as a controlling shareholder, that the steps announced today are necessary to maximize value of the company for all WWE shareholders”.
You can find the rest of the press release here. Here's what the high-ranking executives had to say about the major corporate shakeup: "Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board," said Chairwoman & Co-CEO Stephanie Mcmahon, Co-CEO Nick Khan, and Chief Content Officer Paul Levesque (Triple H).
"We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value."