WWE Co-CEO Stephanie McMahon Resigns After Vince McMahon's Return as Executive Chair

Doric SamJanuary 10, 2023

AUSTIN, TEXAS - MARCH 14: Stephanie McMahon attends Meet the Women Dominating Sports Media during the 2022 SXSW Conference and Festivals at Hilton Austin on March 14, 2022 in Austin, Texas. (Photo by Shedrick Pelt/Getty Images for SXSW)
Shedrick Pelt/Getty Images for SXSW

After serving as co-CEO and chairwoman of WWE for the last six months, Stephanie McMahon announced her resignation from the company on Monday.

The move comes days after her father Vince McMahon returned to the company as a board member following his retirement in July amid allegations of sexual harassment and misconduct, as well as accusations he paid hush money to the women involved.

Stephanie McMahon @StephMcMahon

Then. Now. Forever. Together. <a href="https://t.co/8dqr5reIiv">pic.twitter.com/8dqr5reIiv</a>

McMahon's resignation means that Nick Khan is now the sole CEO of WWE, per Sean Ross Sapp of Fightful. Vince McMahon has also officially been voted as executive chairman of the board:

Sean Ross Sapp of Fightful.com @SeanRossSapp

Ah. Vince McMahon is Executive Chairman of the Board again <a href="https://t.co/q603lE8Soj">pic.twitter.com/q603lE8Soj</a>

Stephanie McMahon was inserted as chairwoman of WWE in July, just a few weeks after announcing a leave of absence from the company, following Vince McMahon's surprising retirement. The Wall Street Journal uncovered that he had paid more than $12 million to four women in an effort to cover up "allegations of sexual misconduct and infidelity." It was eventually found that he had up to $19.6 million in unreported expenses.

The 77-year-old remained the majority shareholder of WWE despite leaving the company. In the announcement of his return, it was indicated that a sale of the company is being pursued, stating intentions "to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders."

In addition to Vince McMahon's return, three board members were fired and two former executives were added to the board. Two board members reportedly subsequently resigned.

Stephanie McMahon stated in her resignation that her father is "leading an exciting process regarding strategic alternatives." She expressed confidence in the direction of the company under Khan and chief content officer Paul "Triple H" Leveque, who is her husband.

"I am confident WWE is in the perfect place to provide unparalleled creative content and drive maximum value for shareholders," she said. "WWE is in such a strong position, that I have decided to return to my leave and take it one step further with my official resignation. I look forward to cheering on WWE from the other side of the business, where I started when I was a little kid, as a pure fan."

With WWE in an apparent state of upheaval, it remains to be seen what further developments await the company in an uncertain time.