After Vince McMahon’s return to WWE was announced last week with intent to sell it or simply renegotiate his television deals, here comes another “bombshell”.
This Tuesday, WWE announced in a statement on its corporate website that Vince McMahon has been unanimously elected Executive Chairman of its Board of Directors.
Additionally, it was announced that Stephanie McMahon has stepped down as President and CoCEO, leaving Nick Khan as the sole CEO of WWE.
Once again, WWE President Vince McMahon said the following:
I am proud to announce that Nick Khan will serve as CEO of WWE. Nick’s business acumen and mastery of the media industry helped our company achieve record revenues and profits. Together we look forward to working with the Board at this critical time to review our strategic alternatives and maximize value for all WWE shareholders.
Nick Khan, now sole CEO of the company, said:
I am grateful to Vince McMahon and our board for their continued support. I look forward to continuing to work closely with them and my colleagues at WWE to ensure our company can thrive as a leader in sports entertainment for years to come.
What do you think of Vince McMahon being elected Executive Chairman of the WWE? Will Nick Khan remain sole CEO for long?