Days after her father’s return to WWE, Stephanie McMahon has announced her retirement, she announced on Twitter on Tuesday.
In July, McMahon and Nick Khan stepped into co-CEO positions after Vince McMahon was ousted over allegations of misconduct, millions of dollars in reported settlements, and investigations into other non-disclosure agreements. Stephanie also took on the role of chairwoman. The latest move completely removes Stephanie from the business side of the company and recognizes Vince McMahon as executive chair who is “leading the exciting process regarding strategic alternatives.”
As part of Stephanie McMahon’s statement, she also referenced Nick Khan’s “leadership” and that Paul Levesque will remain chief content officer.
Vince McMahon initiated the sale process of WWE with his official return to the company last Friday, where he elected himself to the WWE Board of Directors, along with former co-presidents and directors Michelle Wilson and George Barrios. The move came a day after it was reported by the Wall Street Journal that “unless (McMahon) is directly involved in a strategic review from inception as executive chairman, he will not endorse or approve any deal or sale of media rights.” The move essentially keeps WWE from signing television contracts for its flagship programs Raw or Smackdown, as well as his apparent goal of selling the company unless he is directly involved.
After PWInsider, Vince McMahon’s return could trigger a board lawsuit. But that possibility apparently wasn’t enough to keep Stephanie McMahon around.
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