LAS VEGAS, NEVADA – JULY 02: Vince McMahon, Stephanie McMahon and Triple H attend the UFC 276 occasion at T-Mobile Arena on July 02, 2022 in Las Vegas, Nevada.
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Stephanie McMahon has resigned as WWE co-chief govt officer and chairwoman after her father, Vince, was unanimously re-elected as the corporate’s govt chairman.
Stephanie McMahon returned from a depart of absence in July to take over as co-CEO after Vince retired amid allegations of sexual misconduct. She knowledgeable employees Tuesday that she is once more stepping down as Vince McMahon returns to facilitate a possible sale of the corporate.
“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,” Stephanie McMahon stated in a press release.
Nick Khan, previously co-CEO alongside the youthful McMahon, will function the corporate’s sole CEO. Stephanie McMahon’s husband, Paul “Triple H” Levesque, will proceed to run WWE’s artistic division.
Stephanie McMahon introduced in May she was taking a depart of absence from her prior position as chief model officer to give attention to her household.
“I’d like to express my full support for Stephanie’s personal decision,” Vince McMahon stated in a press release Tuesday. “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.”
Vince McMahon, former CEO and controlling shareholder of the corporate, rejoined the WWE board of administrators final week and stated he would assist to facilitate a sale of the corporate.
WWE has been thought of a sale goal for a while, CNBC beforehand reported, as the corporate owns mental property that could possibly be precious to streaming service, merchandising and theme park companies.
The firm has employed JPMorgan to advise on the potential sale, CNBC beforehand reported.
— CNBC’s Lillian Rizzo contributed to this text.
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