Just days after Vince McMahon returned to WWE's Board of Directors, his daughter, Stephanie McMahon, stepped down as co-CEO. The announcement was made by Stephanie herself via Twitter on Tuesday evening. She expressed her gratitude for serving as co-CEO alongside Nick Khan last year.
Still, now that her father has returned to guide the company with the help of Khan and Paul "Triple H" Levesque, Stephanie believes that WWE is in a solid position to deliver unparalleled creative content and drive maximum value for shareholders.
In her statement, Stephanie acknowledged her previous leave of absence, which began before her father stepped down as CEO amid his s*xual misconduct and hush money scandals. However, Stephanie's latest absence seems more permanent, as she announced her "official resignation" and revealed that she'll be "cheering on WWE from the other side of the business."
Vince McMahon Supports Stephanie's Resignation
After Stephanie's announcement, WWE released a press release that included comments from her father, Vince.
He expressed his full support for Stephanie's personal decision and praised her for the job she did co-leading WWE. Vince also noted Stephanie's contributions to the company over the years and described her as the ultimate ambassador for WWE.
Moving forward, Nick Khan will serve as WWE's CEO. According to Vince, Khan's business understanding and mastery of the media industry have helped catapult the company to record revenue and profitability. Vince also expressed his excitement to work with Khan as WWE explores strategic alternatives during this critical juncture in the company's history.
Stephanie's resignation comes at a time of change and transition for WWE. With Vince's return to the Board of Directors and the appointment of Khan as CEO, it remains to be seen what other changes may be in store for the company.
However, one thing is for sure: Stephanie McMahon's decades-long contributions to WWE have left an immeasurable impact on the brand, and her presence will surely be missed.
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