Vince McMahon returns: Former WWE chief plots comeback after 2022 retirement:Mr. McMahon, whose abrupt departure in July 2022 followed disclosures by the Journal of Multiple payouts to women who had alleged sexual misconduct and infidelity, expects he will be able to assume the role of executive chairman, though he would need board approval for that, the people said.Follow WWE News and Updates with InsideSport.IN
Vince McMahon returns: Former WWE chief plots comeback after 2022 retirement
Mr. McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, said Thursday he had told the company that he is electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios, to the board, confirming an earlier Wall Street Journal report. The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.
SCOOP: Vince McMahon plans to return to WWE following his retirement in 2022 amid a sexual-harassment scandal in order to pursue a sale of the business, sources say. $WWE https://t.co/Sac3LSAejK
— Lauren Thomas (@laurenthomas) January 5, 2023
Vince McMahon, is looking to make a return to WWE in order to pursue a sale of the company, WWE announced on Thursday.
As first reported by the Wall street Journal before later being confirmed in a press release McMahon — who maintains majority voting power in the company due to his stock holdings — expects to assume the role of executive chairman of the board, after promoting himself and two former associates, Michelle Wilson and George Barrios, to WWE’s board of directors.
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Vince McMahon Return to WWE
The initial report on the move mentioned that the board was hesitant to see McMahon return and even pushed back on the idea, which required three other board members to step down to facilitate the moves. Despite the initial pushback, however, the move was made, with McMahon referring to the move as “the only way” for WWE to capitalize on negotiations over media rights.
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